Tax Reform

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced that it has designated Opportunity Zones in Virginia, including areas located in the Ninth District. As a result of the Tax Cuts and Jobs Act, new investments in communities designated as Opportunity Zones receive preferential tax treatment, encouraging growth and revitalization in areas facing economic… Read more »

Death There’s a saying about not making the perfect the enemy of the good. I thought of that saying recently when I voted for the Senate’s version of “right to try” on May 22. Regular readers of this column know that I am a staunch supporter of the concept of “right to try,” which would allow patients facing life-threatening illnesses to access experimental treatments. Throughout my… Read more »

Disclaimer: The Tax Cuts and Jobs Act took effect at the beginning of 2018, so for your 2017 income taxes due this April, you will still pay according to the old tax code and its higher rates. But most should see bigger paychecks this year because the Federal Government will withhold less for 2018 taxes. Read on to learn more. In the months since President Trump signed the Tax Cuts and… Read more »

Tax Reform: Good for Families, Good for Jobs In a country whose war for independence was to some degree a tax revolt, taxes can be a touchy subject. A lot of complicated questions are involved. How do we encourage economic growth? How do we raise revenue to pay for spending? What is a fair tax rate? Answering these questions means setting priorities and balancing them. My priorities… Read more »