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the proposal. Senators understand that the impact of this additional regressive tax on lower and middle-income taxpayers is significant. It is important to relieve the impact on those least able to pay. Unfortunately, the mechanism chosen to accomplish this objective is inappropriate.
Data compiled by the Institute on Taxation and Economic Policy (ITEP), on the effects of the Virginia Tax Reform Act of 2004, confirm the extent that the Commonwealth’s tax system is unfair to the poorest families. Families in the two lowest quintiles (i.e., those with annual incomes less than $34;000) pay a significantly higher percentage of their
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