The Budget is Signed Special Session-Voting on the Budget   Seeking Balance Greetings, We all need balance in our lives. Eating too little or too much affects our energy level. Too little sleep causes trouble thinking, and too much sleep causes us to become lazy and not accomplish what needs to be done. Governments are the same way. They must have balance for them to function properly.   Budgets are a perfect example. In Virginia, our constitution requires the budget to be balanced. The needs of Virginians are balanced between this service and that service. If one area of government is overfunded, it comes at the expense of other agencies. Hence, there is always a back and forth as the budget is developed in Richmond. Likewise, that is why there is such a horrible mess in Washington. Unlike Virginia, they have no constitutional requirement to balance their budget; each year, the federal deficit grows and grows. A balance must be found not just about which agencies and services to spend tax revenues on but also about how much to spend. The question often comes down to whether we should find more tax revenues or not and, if so, how. That is the issue that we are trying to deal with this week. I believe that, rather than fighting over which agencies get this amount or that amount to provide their perceived needs, it would be wiser to grow the economy by encouraging and assisting businesses to expand or come to Virginia. This would result in greater employment opportunities. The more Virginians and businesses paying taxes, the more revenue that can prudently be used to balance the budget. Without good-paying jobs, there is a greater need for services from the state, such as food and housing assistance and Medicaid. Some believe the solution is to simply raise taxes! That might work in the short run, but in the long term, it makes Virginia a less attractive place to build a business for potential employers. We have perfect examples of this by watching what states around Virginia have done. In North Carolina and Tennessee, both states have reduced their rates on businesses. In North Carolina, they tested the idea by reducing the corporate tax by one-half of one percent. If that cut did not attract more business activity, they would not drop the rate again; however, if it created new jobs, they would drop the rate more. After several years of drops, they are beating Virginia in attracting new manufacturers. When Governor Youngkin analyzed the situation and the loss of young people leaving our state, he focused his budget on cutting tax rates. His budget sought to make Virginia more competitive. The Democrats, on the other hand, proposed more taxes. This is the battle that is being fought. This year is a deadlock, and it will be re-fought every year. The bottom line is that despite Washington's inability to understand, the government cannot provide for all the wants that some have, but rather should focus on the real needs. As I write this, we are just getting ready for the Special Session. I received a copy of the budget around noon on Saturday and have spent the weekend reading through the almost 1,000 pages of amendments to the 2022-24 Budget and the newly proposed 2024 – 26 Biennial Budget. While I don’t like everything about this budget, I think we have some significant wins in the end. I will give you a recap after we finish up in Richmond this week. Please remember always to reach out if I can be of assistance. My team and I are here for you.   5-13-2024 THE BUDGET IS SIGNED Governor Glenn Youngkin signs budget in Richmond, May 13, 2024. Official Photo by Austin Stevens, Office of Governor Glenn Youngkin. RICHMOND, VA - Governor Glenn Youngkin signed the Virginia state budget bills HB 6001 and HB 6002, bipartisan resolutions for the entire Commonwealth. “This is an important day for Virginia. While Virginians’ elected officials can sometimes be far apart on policy, today demonstrates and reiterates that we can come together to deliver for the Commonwealth. This budget resolution was empowered by the strength of our labor market, with more Virginians working than ever before and investments by businesses large and small, that have fueled record revenues for the Commonwealth,” said Governor Glenn Youngkin. “It’s enabled us to make historic investments in child care, in behavioral health, in our law enforcement community, in conservation and natural resources, and in education, including building on the twelve percent raises to our teachers in our first two years, with an additional three percent raise for educators in each of the next two years. I want to thank the General Assembly and especially Chairs Lucas and Torian, the conferees, and leadership from both sides for their unwavering commitment to serving the Commonwealth and investing in our collective priorities that keeps Virginia on a winning path.” “I am delighted that today Governor Youngkin signed the biennial budget. What you see in this budget is the dedication and collaboration from my colleagues in the House, Senate of Virginia, and the Governor. We came together to pass a budget that works for all families of the Commonwealth,” said Delegate Luke E. Torian, House Appropriations Committee Chair. “The budgets passed today provide for a stronger Virginia and allows localities, agencies, and institutions to finalize their budgets. We had to accept some compromises, but the Senate will continue towards modernizing our tax code and fund educational opportunities for every student,” said Senator L. Louise Lucas, Senate Finance and Appropriations Committee Chair.   P.O. Box 145, Clarksville, VA 23927 (434) 374 5129 Email Us DONATE Share This Email Share This Email Share This Email Senate of Virginia | P.O. Box 145, Clarksville, VA 23927 Unsubscribe [email protected] Update Profile | Constant Contact Data Notice Sent by [email protected] powered by Try email marketing for free today!