Republican gubernatorial candidate Kirk Cox (Colonial Heights) is calling on Virginia Democrats to give the Commonwealth’s surplus revenue back to Virginia taxpayers.
According to Northam’s office, A new revenue analysis shows that in total, the Commonwealth expects an additional $730.2 million from tax revenue. “These revised budget numbers tell us that Virginia’s economy continues to thrive, in spite of the pandemic,” said Governor Northam.
The additional data means total revenues and transfers for fiscal year 2021 will be revised upwards by an additional $410.1 million and fiscal year 2022 will be revised upward by an additional $320.1 million.
Governor Northam wants to use the money to invest in public schools and public employees. “Before the pandemic, we had passed the most progressive budget in Virginia history. These additional dollars help us get back to that historic budget and allow us to move forward with our shared priorities—providing Virginia families and businesses the relief they need to get back on their feet, supporting public schools, and giving our public workers a pay raise.”
Cox wants the Democrats to take a different approach by providing a smaller form of a stimulus check to Virginians. His plan would provide approximately two million single filers that make up to $75,000 with $190 checks, and 987,000 married filers that make up to $100,000 with $380 checks. “Virginia families have been through a lot, but they’ve weathered the storms of the last year with amazing resilience. Through small business shutdowns, forced virtual learning, and repeated failed leadership, they persevered,” said Cox. “Because our families and small business owners found a way to keep working and keep succeeding in spite of the challenges, the Commonwealth has almost $730 million in anticipated revenue for the next two years. That’s certainly good news.”
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