Virginia General Fund collections up 3 per cent

RICHMOND, VA – Governor Glenn Youngkin announced the General Fund revenue collections for January 2023. For January, which is typically a significant month for collections, adjusted general fund revenues increased by 3.0 percent compared to January 2022. On an unadjusted basis, general fund revenues increased by 2.1 percent year-to-date. 

“Month after month, these revenue numbers reflect our previously forecasted levels for the Commonwealth, the system has more than sufficient level of funds to cut taxes for families and local businesses and make significant investments in behavioral health, our children’s education and law enforcement recruiting and retention in Virginia.” said Governor Glenn Youngkin. “As Virginians continue to relocate to lower tax states, the time to lower cost of living in Virginia is now. The Commonwealth remains in an extremely strong fiscal position to deliver on our agenda for Virginians, and I’m looking forward to working with the General Assembly to make that a reality.”  

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