US EditionYoungkin's final Virginia budget: $730M in tax breaks faces Democratic opposition
Youngkin's $72 billion budget includes $730 million in tax relief and $1 billion for pay raises, emphasizing education and Medicaid amid political transition in Virginia.
- On Wednesday, Gov. Glenn Youngkin unveiled a proposed 2026-2028 biennial budget setting $72 billion in General Fund spending and $211 billion in total resources as his final full budget before leaving office next month.
- Citing strong revenue growth, Youngkin noted record business investment of $156 billion and general fund revenues about $484 million above forecast with a 3.5% annual growth projection for fiscal year 2026.
- The plan includes $730 million in tax relief without new taxes and $1 billion in compensation actions, featuring a 2% one-time bonus in 2026 and 2% raises in FY2027 and FY2028, plus record K-12 education funding at $22.8 billion.
- Democrats control both chambers and Gov.-elect Abigail Spanberger will sign the budget, with Surovell warning, `I think you're going to see some major surgery done on this budget once we get our hands on it`.
- Built for the biennial budget cycle, Youngkin said the combined $9 billion in tax relief leaves upside for the next administration, urging opposition to RGGI and repealing Virginia's right-to-work law.
13 Articles
13 Articles
Youngkin urges lawmakers, incoming governor to maintain his final budget proposal
Outgoing Republican Gov. Glenn Youngkin’s final budget proposal includes money for a second inland port, raises for teachers, an attempt to modernize the corporate tax code and an effort to make the standard tax deduction permanent. Youngkin presented his final biennial budget proposal before the General Assembly’s joint money committees Wednesday morning — though he will have left office by the time the budget is reworked and passed by the Dem…
Youngkin pitches final budget, touts strong revenues as he prepares to leave office
Gov. Glenn Youngkin and first lady Suzanne Youngkin enter a committee meeting room at the General Assembly Office Building in Richmond before the governor presented his final budget to lawmakers at the joint meeting of the House Appropriations, House Finance and Senate Finance & Appropriations Committees on Dec. 17, 2025. (Photo by Shannon Heckt/Virginia Mercury)Outgoing Gov. Glenn Youngkin on Wednesday rolled out his final two-year budget propo…
State worker pay increases in Youngkin's final Medicaid-constrained budget
Gov. Glenn Youngkin is proposing a 2% bonus in the current fiscal year and a 2% salary increase in fiscal year 2027 and in fiscal year 2028 for state employees, teachers, school support staff and state-supported local employees.
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