BUDGET POINTS THAT GO A LITTLE DEEPER

TAXES BACK TO YOU

This budget, combined with last year’s, will return a total of $5 billion dollars to taxpayers.

Income Tax Rebate Fund for a rebate of $200 for single and $400 for married filers. That is good for all taxpayers. However, it would have been better to reduce the income tax rate that is taken from every paycheck. That would have been on going each year, not just one year. This is a battle that will have to be fought in future years.

Millions to increase your standard deduction in 2024 from $8,000 to $8,500 for single filers and $16,000 to $17,000 for married filers.

Eliminates the age restriction on military retirement income in 2024. Previously, this was done for the lowest paid retirees. The goal is to tap into the trained experienced folks who we would like to keep in Virginia rather than losing them to states that currently don’t tax these retirees.

Increase business interest deduction from 30 to 50 percent in 2024. This will encourage small businesses to grow and expand.

Reestablish a one-day sales tax holiday that traditionally has been for back to school.

PUBLIC SERVANTS

State employees (except legislators) and teachers will see a pay increase of 2% on January 1^st. This is in addition to the 5% increase in July. This will help to compensate for the high rate of inflation.

EDUCATION

Provides an additional $653.3 million in Direct Aid to support K-12 education in our local school systems. This helps our rural and poorer counties more than more wealthy counties around the state.

Funds were included to increase the number of support staff for schools by almost 15%.

Money was included to improve school security.

It includes money for one-time flexible funding to support the implementation of the Virginia Literacy Act, address learning loss, and provide additional operating and infrastructure support. This is an attempt to help our students recover from the loss of learning during Covid.

Additional funds for the Workforce Credential Grants to support training in high-demand jobs and workforce development including nursing at both community colleges and four-year colleges.

MEDICAL FUNDING

Some adjustments to help with Medicaid needs.

Better funding to assist our most vulnerable citizens with personal care, behavioral health, and early intervention services.

Increases by 500 developmental disability slots increasing the total number of slots in 2024 to 1,100.

BEHAVIORAL HEALTH

Funds to expand crisis centers, expand permanent supportive housing for seriously mentally ill, and additional funding for the community service boards to help with recruiting and retaining staff.

PUBLIC SAFETY

Provides almost $100 million for various programs to address crime in our communities and their victims.

OTHER ITEMS

Provides funds to set up and support my legislation establishing the Department of Workforce Development and Advancement. Currently there are duplicating services. This will allow our workforce training dollars to be better focused.

Supports the Power Innovation Fund for research and development of innovative energy technologies. This makes far more sense than solar power and windmills.

In any budget there are things that some will support, and some will oppose. I only wish it had been completed on time.



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