Statement of Governor Warner on House Bill 1488

RICHMOND - Governor Mark R. Warner today issued the following statement on the introduction of House Bill 1488:

"On the same day that the January financial report indicates revenues are lagging slightly behind expectations, we now see a proposal that acknowledges the need for additional revenue to pay our bills.

"Delegate Hamilton's proposal claims to increase sales taxes by hundreds of millions of dollars over the biennium by eliminating certain tax exemptions. It is essential that we determine the actual size of this tax increase and the impact on jobs and individual taxpayers in Virginia.

"I firmly believe that our own comprehensive reform proposal -- which emphasizes fairness, reduces taxes overall for two-thirds of Virginians, and does not place an undue burden on any single category of taxpayer -- is the best course for Virginia."