Richmond, Va. (Newsradiowrva.com) - Governor Glenn Youngkin (R) is again arguing for tax cuts, after releasing March revenue numbers that show the Commonwealth is over 22% ahead of forecast. The numbers also show Virginia up $870 million over forecast year to date.
Youngkin says the numbers show there is more than enough money in the system for tax cuts. Youngkin is advocating a doubling of the standard deduction, a suspension of the state gas tax for three months, and elimination of the grocery tax. Democrats have countered with either partial cuts, a study of the deduction, and have raised concerns about the impact of the gas tax on transportation revenue.
The budget remains outstanding because of the tax cut debate, because lawmakers cannot determine what to spend if they do not know what money is coming in. The talks over the budget may have also taken a hit this week, after Youngkin angered Democrats with his vetoes.
