Tax Freedom Day Finally Arrives

Tax Freedom Day Finally Arrives

Mark Warner’s Tax Hike Pushes Date Back 11 Days

RICHMOND, VA – After 115 days, Tax Freedom Day has arrived, and Virginia taxpayers can finally stop working for the government and start working for themselves.

Tax Freedom Day is the day in which taxpayers have earned enough income to pay off their estimated federal, state, and local tax bills for a given year, according to the Tax Foundation.

Virginia had successfully moved its Tax Freedom Day to April 18 in 2003. However, Mark Warner’s historic tax increase in 2004 brought that trend to a screeching halt. Virginians’ tax burdens increased steadily for three consecutive years thanks to Warner’s massive tax hike, resulting in Tax Freedom Day not occurring until April 29 in 2007. The Tax Foundation attributes this year’s improvement to the tax stimulus package signed by President Bush earlier this year.

“Tax Freedom Day paints a clear picture of the burden that government places on Virginia’s taxpayers,” said Republican Party of Virginia Chairman John Hager. “Unfortunately, the policies of Mark Warner and his friends Barack Obama and Hillary Clinton would only add to the number of days Virginians have to work for the government. Both Obama and Clinton will need to raise taxes to pay for their new government programs, and Virginians are all too familiar with Mark Warner’s support of tax hikes. In contrast, John McCain and the Republicans running for the Senate in Virginia understand that a low tax burden is a key component to a strong, competitive economy.”

More information about Tax Freedom Day can be found at the Tax Foundation’s website, www.taxfoundation.org/taxfreedomday/.