Governor Glenn Youngkin Celebrates Virginia Largest Tax Relief in the State History

Veronica Charnell Media

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Governor Youngkin signed the Virginia State Budget, which delivers on his promise to provide tax relief for Virginian families.

“Every day we have worked hard to build a more prosperous Virginia, with greater opportunity for future generations,” said Governor Glenn Youngkin. “Together, we enacted historic tax cuts and made record investments in education and public safety. Governor Glenn Youngkin said he is very please with the new Virginia State Budget, and he is proud to see the results after the government pushed for more accountability and transparency. Governor Glenn Youngkin describes the state budget as building opportunities for Virginia Families.

At a glance, this is what’s included in the Virginia State Budget.

  • Cutting Costs For Virginians
  • Provides almost $4 billion in tax relief to Virginians
  • The largest tax relief in Virginia history
  • Eliminates the 1.5% state grocery tax
  • Nearly doubles the standard deduction to $8,000 for single filers and $16,000 for joint
  • Gives every Virginia taxpayer a tax rebate of $250 for single filers and $500 for joint
  • Exempts $40,000 of veteran retirement income tax for veterans over 55
  • Restoring Excellence In Education
  • Boosts education spending to the largest level in Virginia history with $3.2 billion in direct aid
  • Raises teacher pay by 10%
  • Provides $100 million to launch lab schools with colleges, including community colleges and HBCUs
  • Provides almost $900 million in funding to Virginia’s HBCUs
  • Funds the Virginia Literacy Act with nearly $10 million
  • Puts $7 million towards reading specialists to coach our students who are furthest behind $1.25 billion in grants and loans to support school construction
  • Requires each public college to adopt an official policy on academic freedom and begin reporting on the state of free expression and diversity of thought on their campus
  • Keeping Our Communities Safe
  • Provides $45 million to fund school resource officers
  • Establishes $13 million for violence prevention grants including Operation Ceasefire
  • Provides $400 million in compensation and additional support for our law enforcement and public safety heroes
  • Prevents the early release of over 500 violent inmates
  • Reinvigorating Job Growth And Making Government Work for You
  • Invests $150 million in site development to attract job creators
  • $10 million to support transformation initiatives at the DMV, the Virginia Employment Commission, and other state agencies

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