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.”
Both proposals also include increases in state employee compensation, including for law enforcement officials.
Senate Finance and Appropriations Chair Janet Howell (D-Fairfax) said in a Senate Democrats release, “I am very pleased with the budget the members and staff of the Committee have put together, and thank them for their tireless work for the Commonwealth. SB30 contemplates first taking care of the people who take care of Virginia’s families: healthcare workers, teachers and school support staff, mental health professionals, and state and local employees, to name a few. Making sure every child receives a quality education and every adult can prosper requires our investment for a stable future in Virginia.”
House Appropriations Committee Chair Barry Knight (R-Virginia Beach) said in a House Republicans release, “With a brighter revenue forecast and a clearer path out of the pandemic, this budget continues the work to build a safer and healthier Commonwealth and move us on the trajectory toward stronger economic growth through tax relief, prudent investments, and job creation.”
He added, “This budget focuses on ensuring a structurally sound foundation for future growth, providing tax relief, and maximizing our reserves before undertaking new initiatives.”
The two chambers are expected to pass their budget proposals later this week. Eventually, legislators from the two chambers will meet in conference to hammer out a compromise before a March 12 deadline.
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Eric Burk is a reporter at The Virginia Star and The Star News Network. Email tips to [email protected].
Photo “Glenn Youngkin” by Glenn Youngkin. CC BY-SA 2.0. Background Photo “Virginia State Capitol” by Skip Plitt. CC BY-SA 3.0.
