The House and Senate money committees presented their biennial budget proposals on Sunday afternoon in preparation for passage later this week. Both the Senate Finance Committee and the House Appropriations Committee included more than $2 billion in additional education spending when compared to previous years, a key goal of Governor Glenn Youngkin. But differing amounts of tax cuts drew Youngkin’s attention. In separate legislation, the House has already approved Youngkin’s tax cuts and refunds, but the Senate has rejected or pared-down some cuts.
“The House budget provides nearly $5.3 billion in tax relief for all Virginians – including significant tax relief for our military veterans and common sense tax relief worth $1,500 to a typical Virginia family in the first year. This represents the priorities I outlined in the Day One Game Plan Virginians voted for last November. Speaker Gilbert and Chairman Knight have delivered on our shared promises,” Youngkin said in a Sunday afternoon press release. “While it does not include nearly enough tax relief, the Senate budget proposal also includes common sense, bipartisan priorities on which we can find common ground. I know Senator Howell and Senate Leadership are eager to work in good faith on these and other important priorities.”
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