Gov. Youngkin advocating for Virginia tax relief, expects $2.6 billion surplus to grow
February 18, 2022 | Virginia
Virginia Gov. Glenn Youngkin is advocating for tax relief for Virginia residents. The governor made a stop at Brock’s Barbecue to speak about his plans to cut taxes.
“Yesterday, we stood up for parents. Today we’re cutting taxes,” Youngkin said. “It’s time that we have a one-time tax rebate of record level to give back that money to you.”
One day after the governor signed a bill into law that ended school mask mandates, he said he wants to end the grocery tax, double the standard deduction and suspend the gas tax for a year. Younkin believes residents are being overtaxed.
However, Virginia business owners and residents want to know how that money will be put back in their pockets.
According to Youngkin, Virginia government coffers are full, recording a $2.6 billion surplus which he said is expected to grow. The governor said fees and incremental taxes have created the surplus and that the money isn’t currently being used or allocated anywhere.
“So that gives us this very unique moment where we can lower taxes and make critical investments in those things that we know we need to invest in,” Youngkin said.
The governor said he wants to invest in areas like law enforcement, behavioral health and education.
When addressing the potential elimination of the grocery tax, Youngkin said he wants to avoid damaging education budgets which is a concern among some lawmakers… (Excerpt from ABC NEWS 8)
