Lawmakers in Virginia are finalizing the state budget for 2025, with a $1.1 billion tax rebate plan included. The plan offers $200 to individual filers and $400 to joint filers in October. Democrats emphasized the need to address financial struggles and rejected Governor Youngkin’s proposals for more targeted relief. The budget also includes a 1.5% bonus for state workers, $1,000 bonus for teachers, and an increase to the state’s standard deduction. Some Republicans supported the tax relief but wanted more spending cuts.
Specifically impacting Central Virginia, the budget includes the sale of two state properties in Hanover and $50 million for the improvement of Richmond’s Combined Sewer Overflow system. Additionally, the budget features amendments related to gaming, including a referendum for Rosie’s Gaming Emporium at the Staples Mill Shopping Center in Henrico.
Other amendments involve financial obligations for existing Rosie’s locations around the state. VCU Health will stop payments to the City of Richmond related to a failed development deal. Lawmakers are expected to reconvene for the final passage of the budget, which will then be sent to Governor Youngkin for approval, amendments, or veto.
Overall, the budget aims to provide tax relief and address various financial issues affecting Virginians, with specific provisions benefiting Central Virginia. The amendments regarding gaming and VCU Health’s payments to Richmond are also key highlights of the budget proposal.
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