Gov. GlennYoungkin unveils proposal for $1 billion in tax breaks for Virginia residents
The governor claimed that if the legislature passed his proposals of lowering income and corporate taxes, the state would be in a position to assist residents struggling with inflation while also bringing in more outside businesses.“This budget accounts for the reality of the looming economic storm," Youngkin told members of the state's Senate and General Assembly money committees.
Youngkin also outlined some spending priorities in the proposal, including cleaning up the Chesapeake Bay, providing bonuses for teachers and law enforcement officers, wooing economic development, and rebuilding the state's mental healthcare system. The plan does not include the total elimination of the state grocery tax, despite lowering it earlier this year.
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