RICHMOND, Va. (WRIC) — Negotiators in the Virginia General Assembly have reached an agreement to finalize the state’s biannual budget before the regular session adjourns on Saturday.
Democrats unveiled what’s known as the conference budget, which is a compromise between the House and Senate on what to include in the state’s budget, which will begin on July 1, 2024 and last for the next two years.
The budget includes a 3% pay raise in each of the next two years for teachers and state employees.
“We made education and pay raises a priority in the budget, which is very important,” said Delegate Luke Torian, (D-Prince William).
One of the things not included in the budget is Governor Glenn Youngkin’s proposal to reduce personal income tax rates while raising the state’s sales tax. The governor saying it would lead to a $1 billion tax cut for Virginians.
Instead, Democrats only included a part of his plan, which would increase taxes by adding a sales tax to certain digital goods like streaming services.
“At a time where $5 billion of tax relief over the last two years has been a meaningful catalyst to Virginia’s success, we cannot go back on the tax relief that we have provided to so many Virginians,” Youngkin told reporters.
Both chambers are expected to pass the budget on Saturday. Governor Glenn Youngkin will then have 30 days to amend the budget and return it to the General Assembly for lawmakers to consider his amendments.
