FORM N-PX

                     ANNUAL REPORT OF PROXY VOTING RECORD OF
                    REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-4471

VAlue Line Aggressive Income Trust
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  (Exact name of registrant as specified in charter)

220 East 42nd Street, New York, NY 10017
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  (Address of principal executive offices)

David Henigson
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  (Name and address of agent for service)


Registrant's telephone number, including area code: 212-907-1500

Date of Fiscal year-end: 1/31


Date of reporting period: 7/1/2005 - 6/30/2006


Item 1. Proxy Voting Record

BAXTER INTERNATIONAL INC.

Ticker:       BAX            Security ID:  071813109
Meeting Date: MAY 9, 2006    Meeting Type: Annual
Record Date:  MAR 13, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Walter E. Boomer           For       For        Management
1.2   Elect Director James R. Gavin, III        For       For        Management
1.3   Elect Director Peter S. Hellman           For       For        Management
1.4   Elect Director K.J. Storm                 For       For        Management
2     Ratify Auditors                           For       For        Management
3     Declassify the Board of Directors         For       For        Management
4     Establish Range For Board Size            For       For        Management
5     Submit Shareholder Rights Plan (Poison    Against   For        Shareholder
      Pill) to Shareholder Vote


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BOOKHAM, INC

Ticker:       BKHM           Security ID:  09856E105
Meeting Date: MAR 22, 2006   Meeting Type: Special
Record Date:  FEB 9, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Issuance of Warrants/Convertible  For       Did Not    Management
      Debentures                                          Vote
2     Other Business                            For       Did Not    Management
                                                          Vote


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COEUR D' ALENE MINES CORP.

Ticker:       CDE            Security ID:  192108108
Meeting Date: MAY 9, 2006    Meeting Type: Annual
Record Date:  MAR 21, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Cecil D. Andrus            For       For        Management
1.2   Elect Director James J. Curran            For       For        Management
1.3   Elect Director Andrew Lundquist           For       For        Management
1.4   Elect Director Robert E. Mellor           For       For        Management
1.5   Elect Director John H. Robinson           For       For        Management
1.6   Elect Director J. Kenneth Thompson        For       For        Management
1.7   Elect Director Alex Vitale                For       For        Management
1.8   Elect Director Timothy R. Winterer        For       For        Management
1.9   Elect Director Dennis E. Wheeler          For       For        Management
2     Ratify Auditors                           For       For        Management


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CRESCENT REAL ESTATE EQUITIES COMPANY

Ticker:       CEI            Security ID:  225756105
Meeting Date: MAY 8, 2006    Meeting Type: Annual
Record Date:  MAR 24, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Richard E. Rainwater       For       For        Management
1.2   Elect Director Anthony M. Frank           For       For        Management
1.3   Elect Director William F. Quinn           For       For        Management
2     Ratify Auditors                           For       For        Management


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HUNTSMAN CORP

Ticker:       HUN            Security ID:  447011206
Meeting Date: MAY 4, 2006    Meeting Type: Annual
Record Date:  MAR 16, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Peter R. Huntsman          For       For        Management
1.2   Elect Director Wayne A. Reaud             For       For        Management
1.3   Elect Director Alvin V. Shoemaker         For       For        Management
2     Ratify Auditors                           For       For        Management


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MEADE INSTRUMENTS CORP

Ticker:       MEAD           Security ID:  583062104
Meeting Date: JUL 7, 2005    Meeting Type: A
Record Date:  MAY 17, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.01  Elect Michael P. Hoopis                   For       For        Management
1.02  Elect Vernon L. Fotheringham              For       For        Management


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PRIMEWEST ENERGY TRUST

Ticker:       PWI            Security ID:  741930309
Meeting Date: MAY 4, 2006    Meeting Type: Annual/Special
Record Date:  MAR 15, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Elect Directors Harold P. Milavsky, Barry For       For        Management
      E. Emes, Harold N. Kvisle, Kent J.
      MacIntyre, Michael W. O'Brien, W. Glen
      Russell, James W. Patek and Peter
      Valentine
2     Approve PricewaterhouseCoopers LLP as     For       For        Management
      Auditors and Authorize Board to Fix
      Remuneration of Auditors
3     Amend Stock Option Plan                   For       Against    Management


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SEMCO ENERGY, INC.

Ticker:       SEN            Security ID:  78412D109
Meeting Date: MAY 22, 2006   Meeting Type: Annual
Record Date:  MAR 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director John T. Ferris             For       For        Management
1.2   Elect Director Paul F. Naughton           For       For        Management
1.3   Elect Director Edwina Rogers              For       For        Management


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UNISYS CORP.

Ticker:       UIS            Security ID:  909214108
Meeting Date: APR 20, 2006   Meeting Type: Annual
Record Date:  FEB 28, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Randall J. Hogan           For       For        Management
1.2   Elect Director Edwin A. Huston            For       For        Management
1.3   Elect Director Leslie F. Kenne            For       For        Management
1.4   Elect Director Joseph W. McGrath          For       For        Management
2     Ratify Auditors                           For       For        Management


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XCEL ENERGY INC.

Ticker:       XEL            Security ID:  98389B100
Meeting Date: MAY 17, 2006   Meeting Type: Annual
Record Date:  MAR 21, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director C. Coney Burgess           For       For        Management
1.2   Elect Director Fredric W. Corrigan        For       For        Management
1.3   Elect Director Richard K. Davis           For       For        Management
1.4   Elect Director Roger R. Hemminghaus       For       For        Management
1.5   Elect Director A. Barry Hirschfeld        For       For        Management
1.6   Elect Director Richard C. Kelly           For       For        Management
1.7   Elect Director Douglas W. Leatherdale     For       For        Management
1.8   Elect Director Albert F. Moreno           For       For        Management
1.9   Elect Director Dr. Margaret R. Preska     For       For        Management
1.10  Elect Director A. Patricia Sampson        For       For        Management
1.11  Elect Director Richard H. Truly           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Separate Chairman and CEO Positions       Against   For        Shareholder


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XO HOLDINGS, INC.

Ticker:       XOHO           Security ID:  98417K106
Meeting Date: JUN 21, 2006   Meeting Type: Annual
Record Date:  MAY 22, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Carl C. Icahn              For       Withhold   Management
1.2   Elect Director Carl J. Grivner            For       Withhold   Management
1.3   Elect Director Jon F. Weber               For       Withhold   Management
1.4   Elect Director Adam Dell                  For       For        Management
1.5   Elect Director Fredrik C. Gradin          For       For        Management
1.6   Elect Director Vincent J. Intrieri        For       Withhold   Management
1.7   Elect Director Robert L. Knauss           For       For        Management
1.8   Elect Director Keith Meister              For       Withhold   Management


SIGNATURES:

Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



VAlue Line Aggressive Income Trust
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       (Registrant)


By /s/ David T. Henigson
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       David T. Henigson, Vice President and Secretary/Treasurer
       (Signature & Title)


Date August 23, 2006