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.
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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
No roll call votes available for this bill.
Actions Timeline
Continued from last session
7/21/2026SenateContinued to 2027 in Finance and Appropriations (9-Y 5-N)
1/20/2026SenateFiscal Impact statement From TAX (1/17/2026 10:20 am)
1/17/2026SenateReferred to Committee on Finance and Appropriations
11/17/2025SenatePrefiled and ordered printed; Offered 01-14-2026 26100495D
11/17/2025Senate
Bill Text
Introduced
11/17/2025
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