By Delegate Rob Bloxom

Hi, this is Rob Bloxom with an overview of the budget that we have sent to Governor Youngkin for his approval. In this update I will cover the State of Virginia as a whole and next week I will concentrate on the appropriations the 100^th District received. We had historic revenues fueled by the federal recovery money flow both directly to the state and the increase in spending into our economy. We took what I believe is a prudent path and addressed future liabilities to protect us from any downturns in the economy. We made a large deposit into the Virginia Retirement System to improve the status of state employees and teacher retirement funds. We prepaid money into the rainy day fund as well as the reserve fund that will bring the combined balance to a 3.8 billion dollar record. Furthermore,we prefunded the scheduled manufacture employment incentives fund payouts. 2.5 billion dollars was paid to previously authorized and planned projects rather than using our bonding capacity and borrowing the money. 

Steps were also taken to help families recover from the pandemic in the form of tax relief. The standard income tax deduction will be increased from $4,500 to $9,000 for individuals and from $8,000 to $16,000 for joint filers. The 1% state sales tax was eliminated on food effective January 1, 2023. Additionally, a tax relief check will be provided this fall of $250 for single filers and $500 for families. Families in the commonwealth will see their tax burden reduced by an average of $1,100 per year.

For businesses we increased the business interest deduction from 20% to 30%. The gimmick of large tax payer was eliminated from having to prepay sales tax liability earlier in the month of June. We also fully funded the unemployment trust fund to prevent businesses’ unemployment tax rate from increasing.  

There are many projects included in the budget such as the completion of the widening of Interstatae 64 between Richmond and Williamsburg,money to help enhance the capacity of the Port of Virginia, and large deposits into Virginia housing programs. Additionally, there will be money allotted to help school divisions modernize and construct new school buildings. Most importantly to me is that we adjusted the salaries of our law enforcement. All levels will receive a base adjustment and receive raises in fiscal year 2022 and 2023. Most state employees and state supported local employees will also see a salary adjustment.

There is much more in the six hundred plus page document, but these are a few of the highlights. I felt honored to be one of the six delegates tasked with meeting with the senate to produce this compromised budget. The budget bill is now on Governor Youngkin’s desk for review, possible amendments, and his signature. As always, I welcome you to contact me with any questions or concerns at my district office at (757)824-3456, my Richmond office at (804)698-1000 or email me at [email protected]. 

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By Delegate Rob Bloxom

Hi, this is Rob Bloxom with an overview of the budget that we have sent to Governor Youngkin for his approval. In this update I will cover the State of Virginia as a whole and next week I will concentrate on the appropriations the 100^th District received. We had historic revenues fueled by the federal recovery money flow both directly to the state and the increase in spending into our economy. We took what I believe is a prudent path and addressed future liabilities to protect us from any downturns in the economy. We made a large deposit into the Virginia Retirement System to improve the status of state employees and teacher retirement funds. We prepaid money into the rainy day fund as well as the reserve fund that will bring the combined balance to a 3.8 billion dollar record. Furthermore,we prefunded the scheduled manufacture employment incentives fund payouts. 2.5 billion dollars was paid to previously authorized and planned projects rather than using our bonding capacity and borrowing the money. 

Steps were also taken to help families recover from the pandemic in the form of tax relief. The standard income tax deduction will be increased from $4,500 to $9,000 for individuals and from $8,000 to $16,000 for joint filers. The 1% state sales tax was eliminated on food effective January 1, 2023. Additionally, a tax relief check will be provided this fall of $250 for single filers and $500 for families. Families in the commonwealth will see their tax burden reduced by an average of $1,100 per year.

For businesses we increased the business interest deduction from 20% to 30%. The gimmick of large tax payer was eliminated from having to prepay sales tax liability earlier in the month of June. We also fully funded the unemployment trust fund to prevent businesses’ unemployment tax rate from increasing.  

There are many projects included in the budget such as the completion of the widening of Interstatae 64 between Richmond and Williamsburg,money to help enhance the capacity of the Port of Virginia, and large deposits into Virginia housing programs. Additionally, there will be money allotted to help school divisions modernize and construct new school buildings. Most importantly to me is that we adjusted the salaries of our law enforcement. All levels will receive a base adjustment and receive raises in fiscal year 2022 and 2023. Most state employees and state supported local employees will also see a salary adjustment.

There is much more in the six hundred plus page document, but these are a few of the highlights. I felt honored to be one of the six delegates tasked with meeting with the senate to produce this compromised budget. The budget bill is now on Governor Youngkin’s desk for review, possible amendments, and his signature. As always, I welcome you to contact me with any questions or concerns at my district office at (757)824-3456, my Richmond office at (804)698-1000 or email me at [email protected]. 

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