One common complaint I hear about the government is the wasteful spending of tax dollars combined with deficit spending. This combination is dangerous, as it not only harms taxpayers but can also stifle economic growth. That is why I am so impressed with our Republican leadership over the past four years under Governor Youngkin. Not only have we had budget surpluses, but we’ve also been able to return that money to its rightful owner, the taxpayer. The Youngkin-Sears administration has generated a surplus of $10 billion. In fact, this year alone, revenues exceeded the official forecast by $572 million.

Since 2022, Virginia's strong financial performance has enabled record investments and $9 billion in tax relief to reduce costs for families and businesses. These investments in education, law enforcement, behavioral health, and economic development have helped secure over $125 billion in capital commitments, reinforcing Virginia’s competitiveness.

Secretary of Finance Stephen Cummings reported that Fiscal Year 2025 general fund collections exceeded estimates by $572 million and were nearly $1.8 billion higher than FY24 collections. This positive financial outlook, combined with $900.5 million in unappropriated balances from the Governor's actions in May, positions Virginia with a $1.5 billion cash surplus as it prepares for the upcoming revenue forecasting and budget development process.

This is a tremendous success, having led to funding for many important programs, tax rebates being sent back, and, importantly, the rainy-day fund being well funded. These successes are the result of strong, responsible Republican leadership in the Governor’s office. One does not need to look across the border to Maryland to see what Democrats will do if they are elected. Maryland is now facing a $3 billion budget deficit and has lost its triple-A bond rating. This is all after former Republican Governor Larry Hogan left them with a $5 billion surplus. Now, Maryland, already struggling with high taxes since Hogan left, will have to raise taxes even further to cover their spending.

Virginia’s success is a testament to the effectiveness of sound, conservative economic leadership. Under Governor Youngkin and Lieutenant Governor Sears, Virginia has demonstrated that responsible fiscal management, combined with strategic investments in key sectors, leads to growth and prosperity for all Virginians. As we continue to build upon these successes, it’s clear that Virginia’s future is in good hands with the future Sears administration. By continuing to prioritize fiscal responsibility, economic growth, and job creation, we are ensuring a brighter future for the Commonwealth and its people. The numbers speak for themselves, and with continued Republican leadership, Virginia is poised to thrive for years to come.

My staff and I are always here to assist you with any issues or concerns. Please don't hesitate to reach out if we can be of service. You can reach us at 434.374.5129 or by email at [email protected]