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Wednesday, November 6, 2024

Virginia's compromise budget: Key wins and future challenges

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State Rep. Mike Cherry | Mike Cherry Delegate Website

State Rep. Mike Cherry | Mike Cherry Delegate Website

The General Assembly convened in Richmond on May 13th for a special session to finalize the state budget, ending a budget impasse that had persisted since April. The approved budget is seen as a compromise but contains several victories for Republicans and Virginians statewide. "Had Republicans been in charge of writing the budget, you certainly would have seen different priorities. But compromise is necessary in a divided government," said Mike Cherry. He voted in favor of the budget, which received substantial support from both parties.

Governor Youngkin signed the state budget shortly after its approval by the House and Senate. The new fiscal year will commence on July 1st with this budget in effect.

The newly adopted budget maintains existing tax policies without incorporating Democrats' proposed $2.6 billion in new taxes. Despite Governor Yougkin's $5 billion tax cuts during his first two years in office, Virginia's tax revenues continue to grow. Cherry stated that while he had hoped for additional tax cuts, the lack of tax increases was a significant victory for families.

Furthermore, the budget does not mandate Virginia's re-entry into the Regional Greenhouse Gas Initiative (RGGI), an objective sought by Democrats. RGGI aims to reduce carbon emissions among member states but has been criticized for its limited impact relative to its costs. Cherry commented that avoiding this requirement was appropriate given rising living costs and potential increases in energy bills.

The budget also prioritizes students, teachers, and law enforcement agencies with substantial investments in K-12 education and increased funding for law enforcement through 599 funding and Operation Ceasefire.

However, some aspects of the spending plan have drawn criticism from Cherry, particularly language impacting the Virginia Military Survivors & Dependents Education Program (VMSDEP). He expressed disappointment at provisions that could harm this fund and hopes for swift rectification by the General Assembly.

In addition to the state budget, Speaker Don Scott announced a select committee to study campus safety and first amendment expression following violent protests in support of Hamas. While Cherry is not a member of this committee, he will closely monitor its work.

Cherry concluded his statement by offering assistance with any state-related issues in the future.

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