Budget deal includes one-time tax rebate for Virginians

RICHMOND, Va. (WWBT) - House and Senate negotiators say a budget deal has been reached that includes one-time tax rebates for Virginians.

A press release on Friday signed by lawmakers Del. Barry D. Knight, Sen. Janet D. Howell and Sen. George L. Barker says, “Our conferees and staff will be completing the final touches in the days to come.

“The deal is one that provides Virginians with additional tax relief and unprecedented investments in education, natural resources, and behavioral health,” the press release said. “It is a win-win for the citizens of Virginia.”

The budget deal includes a one-time tax rebate of $200 for individuals and $400 for joint filers. It also increases the standard deduction to $8,500 for single-filers and $17,000 for joint-filers.

The sales tax holiday will also be reinstated.

“While the negotiations have been deliberate and extended, we are very pleased that the outcome is both fair and balanced toward the priorities of the House and Senate,” Friday’s press release said. ”In an era when partisanship often prevails, the negotiations were cordial and respectful.”

Copyright 2023 WWBT. All rights reserved.