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: Virginia s State Capitol. (Crixell Matthews/VPM News) Buoyed by better-than-expected state revenues, Gov. Ralph Northam proposed a revised two-year state budget on Wednesday that includes significant investments spanning education, COVID-19 relief, and criminal justice reform. The latest December revenue forecast anticipates an extra $1.2 billion beyond the prior forecast, released in August. The extra cash gives lawmakers the luxury of adding new spending rather than the cutbacks seen in other states. Virginia’s largest employers the federal government, defense contractors, and the tech sector have largely weathered the pandemic without layoffs, a reality that has been reflected in the withholding tax collections that make up over 60% of Virginia’s state revenues. Better-than-expected sales and corporate tax revenue have buttressed Virginia s bottom line. 

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