RICHMOND, Va. (AP) — Virginia Republican gubernatorial hopeful Ed Gillespie says he’s going to make cutting taxes a centerpiece of his campaign.
Gillespie said Thursday he would trim state income tax rates for all tax brackets in Virginia. The plan would lower taxes on income over $17,000 a year from 5.75 percent to 5.15 percent.
Gillespie says the move would grow the economy. He says he would pay for the tax cuts with a portion of expected state revenue growth, not with cuts to state spending.
The former Republican National Committee chairman has a large fundraising advantage over three other GOP hopefuls and is backed by his party’s establishment.
Virginia’s 2017 gubernatorial contest is expected to be widely watched as an early indicator of how voters are responding to President Donald Trump’s term in the White House.
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