Tax refunds

Both houses of the Virginia state government have advanced budget bills that include rebates to taxpayers from surpluses fattened by federal funding and robust tax collections, a trend that concerns policy experts.

The start of the new year triggers the implementation of tax laws in 39 states with trends showing cutting and flattening of income taxes while SALT cap workarounds are also being scrutinized.

In a hearing held by the Department of Treasury and Internal Revenue Service, representatives for local governments and public power agencies expressed what they see as essential in getting the most out of the Inflation Reduction Act's tax credits.