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Youngkin urges Northam to include tax relief in final budget

Published: Dec. 3, 2021 at 7:10 PM EST
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RICHMOND, Va. (WDBJ) - Governor-elect Glenn Youngkin has some advice for Governor Ralph Northam.

Friday afternoon, the Governor-elect encouraged Northam to include tax relief proposals in the governor’s outgoing budget.

Youngkin spoke during the Virginia Economic Summit & Forum on World Trade organized by the Virginia Chamber. He recapped many of the priorities he laid out during the campaign. And he argued tax relief shouldn’t wait.

“Virginians were overtaxed by $2.6 billion last year,” Youngkin told the audience. “And it’s going to be a greater amount this year.”

Youngkin said the surplus is so large, the Commonwealth can offer significant tax relief and still have money for important investments.

His proposals include raising the standard deduction, giving Virginians a one-time tax rebate, ending the grocery tax and suspending the gas tax for a year.

He said he strongly encourages Northam to include them in the outgoing budget the governor will introduce later this month.

“For too long, Richmond has thought the best sort of sustainable government revenue is higher taxes. I fundamentally disagree,” Youngkin said. “The best long-term plan for sustainable government revenue is growing jobs and a growing economy. And together we can deliver that.”

Governor Northam’s spokesperson noted the Governor ran on eliminating the grocery tax during his 2017 campaign, and has continued working to make that a possibility. Alena Yarmosky said the governor is still in the process of developing the budget and will be “rolling out historic proposals over the coming days.”

Following is the complete statement:

“Governor Northam is proud of Virginia’s roaring economy, and it’s good to see the Governor-elect acknowledge that fact. Governor Northam’s careful fiscal management has resulted in the largest surplus in Virginia history, recognition as the best state for business three years running, and a record amount of savings in state financial reserves. I would note that these proposals are far from new—Governor Northam ran on eliminating the grocery tax during his 2017 campaign for Governor, and he has worked during his term to make this a financial possibility. The Governor is still in the process of budget development, and will be rolling out historic proposals over the coming days.”

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