Attorney General Ken Cuccinelli has never shied from embracing big ideas. With the governorship of Virginia on the line in exactly just 2 short months from today, it is time to go big or go home.
As my colleague Steve Albertson wrote yesterday, North Carolina is about to swipe a sizable chunk of businesses that are currently located in Virginia or considering locating here. How? They are on the verge of eliminating their state income tax, becoming the eighth state to do so. The other seven states are among the most economically dynamic in the country today largely due to their business-friendly tax policies.
Cuccinelli proposed his “Economic Growth & Virginia Jobs Plan” back in May. While it was a good start, the North Carolina move is a game changer. He should embrace complete tax reform for the Commonwealth, starting with the elimination of the personal and corporate income taxes, off-setting the revenue losses there using the same methods that states such as Texas and Florida do.
A side benefit to eliminating the personal income tax would be military personnel stationed in Virginia would be more likely to become Virginia residents instead of holding on to residency in a no income tax state. That translates into more registered voters in Virginia who are likely to pull the GOP lever in elections.
It is time to go big and be bold. That is how this race will be won…