The Virginia Senate and House of Delegates don t agree on much, but they re on the same page about the next two-year state budget: Money will be scarce to pay for new tax cuts or spending.
The centerpiece of the tentative deal is one-time payments of $200 for individual taxpayers and $400 for couples that the Senate pushed as an alternative to the proposed cuts in the corporate and top individual tax rates that Youngkin first pitched in December.
The centerpiece of the tentative deal is one-time payments of $200 for individual taxpayers and $400 for couples that the Senate pushed as an alternative to the proposed cuts in the corporate and top individual tax rates that Youngkin first pitched in December.
Virginia taxpayers would be able to use higher standard deductions in preparing their income tax returns next year under a new analysis by the state tax department. But Senate Democrats question the underlying calculation and warn against trusting Gov. Glenn Youngkin s revenue estimates in an ongoing budget battle over his proposed $1 billion package of tax cuts.
Sen. Tim Kaine, D-Va., said the timing of a state watchdog agency s report on school funding was "frankly, good" because of its potential to break a political stalemate over revisions to the state s current two-year spending plan.