1/17/23

Governor Glenn Youngkin has announced the General Fund revenue collections for December.

Through the first half of the fiscal year, general fund revenues were up 6.5 percent over the prior years.

On an unadjusted basis, general fund revenues were nearly one percent higher versus the projected almost nine percent decline assumed in the Governor’s proposed budget amendments for the full fiscal year.

Youngkin stated in a news release that the revenue report confirms Virginia remains in a great position to make critical investments this year and lower taxes so that the commonwealth can compete to win against peer states.