Progressive, Conservative leaders have rare agreement on issue
Sometimes there are bizarro moments during the General Assembly's legislative session.
Like when the heads of the Conservative and Progressive Caucuses hold a joint press conference to push a piece of legislation.
Especially when it has to do with tax policy.
That's what happened Wednesday when co-chair of the Conservative Caucus Del. Ben Cline, R-Rockbridge, and co-chair of the Progressive Caucus David Englin, D-Alexandria came together to tout their bills that would put a five-year limit on tax credits.
"Whenever the most conservative and the most liberal members of the General Assembly see eye to eye on something, I think it's newsworthy," Englin said. "It's something people should sit up and pay attention to."
Both Englin and Cline are sponsoring legislation this session that would require new tax credits offered by the state to sunset after five years in order for lawmakers to assess whether a given credit is achieving its goals before reauthorizing it.
They said the idea came from a Joint Legislative Audit and Review Commission draft report looking at the commonwealth's 187 different tax preferences, loopholes, credits and loopholes.
The unpublished report shows that in 2008 lost $12.5 billion in tax revenue due to preferences, credits and loopholes, Englin said.
Cline said the goal is to eventually look at the tax code to find which of these are offering economic benefits to the state and which can be done away with to "streamline" the tax code.
"This is a first step," Cline said. "What we need to do is lay down a marker going forward. We think it's fiscally responsible to review tax credits every five years. Eventually we hope to start evaluating and analyzing existing credits that are out there."


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