RICHMOND, Va. (WRIC) — After months of disagreement, lawmakers say a deal to amend Virginia’s budget is imminent.
In a joint interview, House Appropriations Committee Chairman Barry Knight (R), and Senate Finance and Appropriations Committee Co-Chairs George Barker (D) and Janet Howell (D) expressed optimism that a deal could be reached by Friday.
However, the three key budget negotiators declined to say what was included in the deal.
“We don’t want to get into specifics right now because we have a total package, and everything is contingent on another thing,” Knight said. “We have a finite set of resources.”
For months, Governor Glenn Youngkin’s desire to see permanent cuts to individual and corporate income tax rates was a sticking point for Democrats. They favored using the money for school and infrastructure improvements.
Last month, Knight told 8News that the Democrats’ compromise offer included one-time tax rebates instead of permanent tax cuts.
“We’re trying to make sure that we are meeting the needs of Virginians in terms of taxes, but also making sure that we have the resources we need not only now, but into the future,” Senator Barker explained.
On Wednesday, Youngkin was asked if he would support one-time rebates instead of permanent cuts.
“I know that we can afford permanent cuts, and if we take a moment here to provide the one-time tax relief and move forward for permanent cuts next year, that’s a compromise that I would be willing to accept,” Youngkin said.