The state’s largest small business association, the National Federation of Independent Business (NFIB) has congratulated Jed Arnold, who won yesterday’s Special Election.
“Last night’s election results show that Virginians have confidence that Jed Arnold will reflect their values concerns when it’s crunch time,” said Julia Hammond, NFIB State Director in Virginia. “Jed is a proven supporter and advocate for small business owners. While his role as Delegate for District 6 only lasts a short period, I’m confident that he represents and communicate the frustrations and needs of our entrepreneurs at the Capitol.”
Jed Arnold replaces Jeff Campbell as Delegate in the 6th District, who vacated the seat for a judicial appointment. Jed Arnold will serve out the term, which expires on January 10, 2024. The Sixth District is composed of the counties of Carroll, Wythe and portions of Smyth County.
Next week, legislators head back to Richmond for Special Session. The Governor called the special session, which starts September 6, to act on Virginia’s two-year budget. Before gaveling out for the session in February, more six months ago, legislators passed a “skinny budget.” Next week they take up the Governor’s plan for $1 billion in tax cuts.
Small businesses were encouraged and NFIB applauded that plan earlier this year, which would lower the corporate income tax rate from 6% to 5%, raise the standard deduction for individual filers, and provide a 10% tax credit to small businesses in Virginia.
Last week, when NFIB announced its endorsement of Jed Arnold, Julia Hammond, NFIB State Director in Virginia, also expressed her frustration (on behalf of our small business owners and members) about the amount of time it was taking lawmakers to finalize a budget. Small business owners across the state are watching closely to see what happens and decide how their actions will influence their vote in November’s general election.