Gov. Youngkin angles for another round of tax cuts in a “both/and playbook”

RICHMOND, VA (CVILLE RIGHT NOW) – Governor Youngkin told General Assembly money committees Wednesday record revenue growth leading to fiscal surplus, spurred by job growth and record labor participation, sets Virginia up well for another round of tax relief. The Governor said a “both/and approach” has achieved $8-billion of earlier tax relief while growing revenues that have allowed increased spending in critical area of education; behavioral health; and agriculture, forestry, and natural resources. All while contributing to the state’s “rainy day fund” to 17%… which is over the 15% target.

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