Virginia Gov. Glenn Youngkin, a Republican, is pushing to eliminate taxes on tips ahead of the commonwealth’s next legislative session.
This proposal would return an estimated $70 million annually to the pockets of Virginia workers, Youngkin’s office said Monday in a press release.
An end to taxes on tips could help more than 250,000 people in Virginia who work within the food service industry, the personal service industry such as hairstylists, the hospitality industry and others who receive tips through their employment in other industries.
“We have delivered over $5 billion in tax relief to date, and we remain committed to lowering the cost of living for hardworking Virginians. It’s their money, not the government’s,” Youngkin said in the release.
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“By removing tips from taxable income, it will directly increase the take-home pay of hundreds of thousands of Virginians and give them more buying power, which in turn …