NVTC and its members sounded the alarm about the economic harm, increased costs, and reduced investment and competitiveness of the proposed new tax
Northern Virginia Technology Council (NVTC) President and CEO Jennifer Taylor issued the following statement after Governor Glenn Youngkin announced that he has proposed an amendment to the biennial budget that will remove a proposed sales tax on digital products and services. NVTC led a coalition of Virginia businesses and business organizations in opposing the tax when it was considered by the General Assembly, and again once it was included in the budget sent to Gov. Youngkin.
“Governor Youngkin’s elimination of the digital sales tax is an important step to maintain the Commonwealth’s economic competitiveness and our reputation as a business-friendly state. As proposed, the digital sales tax would have been a major new tax increase on every Virginia business from our thousands of Main Street small businesses and startups to the dozens of major international corporations headquartered here in the Commonwealth. It would have raised costs for Virginians, reduced investment and job creation, and made it harder to recruit new businesses to Virginia. This was an important step for keeping Virginia at the front of the pack for new investments and new jobs, and we hope the General Assembly will agree with the Governor’s recommendation.” –Jennifer Taylor, President and CEO of the Northern Virginia Technology Council.
About the Northern Virginia Technology Council
NVTC is the trade association representing the Northern Virginia technology community. As one of the nation’s largest technology councils, NVTC serves companies from all sectors of the industry, from small businesses and start-ups to Fortune 100 technology companies, government contractors, as well as service providers, academic institutions, and nonprofit organizations. More than 460 members look to the organization as a resource for networking and educational opportunities, peer-to-peer communities, policy advocacy, industry promotion, fostering of strategic relationships, and branding of the region as a major global technology center. Learn more at www.nvtc.org.