VirginiaSB72026 Regular SessionSenate

Income tax, state; standard deduction and earned income tax credit.

Sponsored By: David R. Suetterlein (Republican)

In Committee

Summary

Income tax; standard deduction and earned income tax credit. Removes the sunset from and makes permanent the standard deduction amounts of $8,750 for single individuals and $17,500 for married individuals filing jointly. Under current law, the standard deduction is scheduled to revert to $3,000 for single individuals and $6,000 for married individuals filing jointly after taxable year 2026. The bill also removes the sunset from and makes permanent the increase in Virginia's refundable earned income tax credit from 15 percent to 20 percent of the allowable federal earned income tax credit. Under current law, the Virginia refundable earned income tax credit expires in taxable year 2027 and Virginia's nonrefundable earned income tax credit, which has no expiration date, is equal to 20 percent of the federal credit.

Finance and Appropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • David R. Suetterlein

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 9 • No: 5

Senate vote 1/20/2026

Continued to 2027 in Finance and Appropriations

Yes: 9 • No: 5

Actions Timeline

  1. Continued to 2027 in Finance and Appropriations (9-Y 5-N)

    1/20/2026Senate
  2. Fiscal Impact statement From TAX (1/17/2026 10:20 am)

    1/17/2026Senate
  3. Referred to Committee on Finance and Appropriations

    11/17/2025Senate
  4. Prefiled and ordered printed; Offered 01-14-2026 26100495D

    11/17/2025Senate

Bill Text

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