Virginia · 2026 Regular Session · Bill
HB 188: Income tax, state; establishes a new income tax bracket beginning in taxable year 2026.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 188 is a bill introduced in the Virginia House on January 7, 2026. According to its official title, it concerns: Income tax, state; establishes a new income tax bracket beginning in taxable year 2026. Primary sponsor: Kelly Fowler (Democratic). It lists 1 additional sponsor. Most recent recorded action (February 11, 2026): Incorporated by Finance (HB979-Watts) (Voice Vote).
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Imposition of income tax. Establishes a new income tax bracket beginning in taxable year 2026, that taxes income in excess of $1 million at a rate of 10 percent. Currently, all income in excess of $17,000 is taxed at the rate of 5.75 percent. The bill provides that, from the additional revenue generated from such increased tax rate upon income in excess of $1 million, 50 percent will be dedicated to providing additional basic aid funding for public schools, 30 percent will be dedicated to the Child Care Subsidy Program, and 20 percent will be dedicated to the Virginia Housing Trust Fund. The bill contains technical amendments.
Sponsors
Sponsors by party (alphabetical): Democratic 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Kelly Fowler | Primary sponsor | Democratic | House | 96 |
| J.R. Henson | Co-sponsor | Democratic | House | 19 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Incorporated by Finance (HB979-Watts) (Voice Vote)
- Subcommittee recommends incorporating (Voice Vote)
- Assigned HFIN sub: Subcommittee #3
- Fiscal Impact statement From TAX (1/30/2026 1:24 pm)
- Referred to Committee on Finance
- Prefiled and ordered printed; Offered 01-14-2026 26101862D