The compromise includes a sales-tax holiday and higher spending on education and mental health, Virginia lawmakers announced Friday.
“The deal is one that provides Virginians with additional tax relief and unprecedented investments in education, natural resources, and behavioral health. It is a win-win for the citizens of Virginia,” according to a statement released by the trio of legislators who had hashed it out: House Appropriations Chairman Barry D. Knight and Senate Finance and Appropriations C0-Chairs Janet D. Howell and George L. Barker .
The spending plan Youngkin proposed for this year’s General Assembly session sought $1 billion more in new tax cuts, including cuts in corporate and top individual tax rates. The Republicans who narrowly control the House followed Youngkin’s lead, but the Democrats with a slim majority in the Senate wanted more money invested in public services.The General Assembly adjourned Feb. 25 without a budget and the impasse stretched past the start of the new fiscal year on July 1.
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