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In 2007, the board voted to increase the pay of members from $59,000 to $75,000 per year. [43] In March 2015, the Board voted 6-4 to increase the pay of future supervisors by $20,000 per year, to $95,000, with the chairman earning $100,000 per year. [44] In March 2023, the Board voted 8-2 to increase the pay of future supervisors by 30%.
Instead, the General Assembly itself levied the tax increases—a statewide sales and use tax increase to 4.8%, a statewide increase in motor vehicle registration fees by $15, as well as, for the first time since 1986, a change in the statewide gas tax to be 3.5% of the price of a gallon of gas instead of a flat 17.5 cents per gallon. [7]
The Virginia Constitution of 1902 created the SCC to replace the Virginia Board of Public Works and the Office of Railroad Commissioner. The three-member Commission was charged with regulating the state railroads and telephone and telegraph companies and with registering corporations in Virginia. The SCC began operations on March 2, 1903.
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Tom Davis was one of only eleven Republicans to vote against the Contract with America Tax Relief Act [66] that cut taxes by $189 billion over five years, including lowering the capital gains tax rate and easing the "marriage penalty," [67] and supported a tax hike referendum to raise sales taxes in northern Virginia by 4.5 to 5%. [68]
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You fund these 401(k)s with after-tax dollars, so you pay taxes on your contributions this year. But this lets you withdraw the money tax-free in retirement, as long as you're at least 59 1/2 ...
From January 2008 to December 2012, if you bought shares in companies when William H. Gray, III joined the board, and sold them when he left, you would have a -17.6 percent return on your investment, compared to a -2.8 percent return from the S&P 500.