RICHMOND, Va. — Following Governor Glenn Youngkin’s 2025-2026 biennial budget amendment presentation today, Freedom Virginia co-Executive Director Ryan O’Toole released the following statement:
“While we’re pleased the governor has recognized the need to lower the tax burden on hardworking families, his budget amendments fail to take comprehensive action to lower costs for hardworking Virginians. At a time when Virginia faces potentially severe headwinds from the incoming Trump administration’s plan to slash federal jobs, Youngkin should not be focused on misguided schemes like his proposal to divert money to private schools while K-12 public education faces a $3.5 billion shortfall.
“Instead, Gov. Youngkin should invest in real plans that empower hardworking families to get ahead, including expanding access to retirement savings, providing down payment assistance for first-time homebuyers and creating a Prescription Drug Affordability Board to bring down the high cost of medicine. Virginians are struggling to get by, and we urge the legislature to craft a stronger budget that lowers costs and allows hardworking Virginians to get ahead.”
5 key “Get Ahead Agenda” items Governor Youngkin left out of his budget amendments:
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A Prescription Drug Affordability Board to lower the cost of medicine.
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A new child tax credit and child care cost-savings programs to save parents money.
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A first-time homebuyer’s tax credit to help renters afford to buy a house.
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The expansion of the RetirePath program to part-time workers who work at least 20 hours per week to ensure more people can retire in dignity.
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A millionaire’s tax on earned income surpassing $1 million per year and closing a key corporate tax loophole by instituting combined reporting, asking corporations and the ultra-wealthy to pay their fair share to fund the right priorities.
