Virginia budget negotiators have reportedly reached a compromise with Republican Gov. Glenn Youngkin on the Old Dominion's next two-year spending plan.
Virginia budget negotiators and Gov. Glenn Youngkin have reached a compromise on the next two-year state spending plan that would include 3% raises for state employees and teachers while not raising taxes and risking a potential veto by Youngkin. House Appropriations Chairman Luke Torian confirmed Thursday that the General Assembly's budget leaders have reached a deal with Youngkin that they hope lawmakers will approve during a special session scheduled to begin on Monday.
Youngkin had originally proposed the idea as part of a tax policy package that would have cut tax revenues by $1 billion and plug what the governor called the 'big tech loophole' that exempts video streaming and audio services from the tax levied on goods. Democrats had rejected the governor’s proposals to cut income tax rates and raise the sales tax by almost a penny, but kept the expansion to digital services.
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