Estimating a $14 billion budget surplus over the next three years, Youngkin calls for giving every state resident a $1,500 tax cut during the first year. The Republican, now seven weeks on the job, also called for doubling the standard income tax deduction to $9,000 for single filers, and $18,000 for joint filers.
The governor also said a new gas tax that was to go into effect in July would be suspended for one year. Youngkin also said he is working with leaders in the General Assembly to make good on a campaign promise to eliminate the state’s grocery tax.
