Gov. George Allen proposed $2.1 billion worth of tax cuts last week, but won't tell anyone exactly how he plans to pay for them until Dec. 19.

Just over half of the tax cut, or $1.3 billion, would result from tripling the personal income exemption from the current level of $800 to $2,400 by fiscal 1999. Allen is proposing that the tax cut take effect on Jan. 1.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.