Virginia individuals and businesses would see $730 million in tax relief under a newly released budget proposal in part by “substantially conforming” with the federal tax law President Donald Trump signed in July, outgoing Gov. Glenn Youngkin (R) said Wednesday.
Youngkin’s biennial budget blueprint is dead on arrival as he’s set to leave office and hand the reins to Democratic Gov.-Elect Abigail Spanberger in January. The state is already moving to set up a taxable retail cannabis market, which Youngkin opposed.
But the proposal could put political pressure on the state legislature’s Democratic majority, which is also set to ...