With May’s fiscal numbers now in the books, Virginia has recorded a 17.8% revenue increase on a year-to-date basis.
In addition to improvements over the year, the commonwealth’s revenue numbers this May were 9.9% higher than May of last year. Gov. Glenn Youngkin said the numbers confirm that it is time to deliver tax cuts to Virginians.
“This report confirms that the time is now to deliver meaningful tax cuts to Virginia families who are getting crushed by five dollar gas and record-high inflation,” the governor said in a statement. “While Virginia was nearly last place in recovering from the pandemic, […]