RICHMOND, Va. (WRIC) — The 1.5% tax on food and personal hygiene products will be cut in Virginia starting January 1, 2023.
“It would be great if we could get some help now, but better later than never, I guess,” said Lakeena Pulliam, mother of five, who was out grocery shopping on Monday.
According to ABC News, US Inflation is at a new 40-year high as price increases spread. The new inflation number has been the highest since 1981 for products such as gas and food. The General Assembly determined the new grocery tax cut would save the average spender $1.50 for every $100 spent at the grocery store.
Lawmakers say the wait is due to retailers and government agencies still needing time to implement the changes into their systems. Governor Glenn Youngkin is expected to sign a budget deal this afternoon apart of the tax cut.
“With a full reduction in the grocery tax it would save $300 a year, an average family of four. With it scaled down a little bit, it would be closer to about $200 dollars per year but, as I mentioned, next year we can go back and we can finish the job,” said Delegate Joseph McNamara (R-Roanoke).
Read more on the new grocery tax cut here.