Governor Glenn Youngkin joined CNBC’s “Morning Squawk Box” on Thursday to tout the Commonwealth’s economic comeback in the wake of the COVID-19 pandemic. He also took the opportunity to call on the state’s General Assembly to pass new state budget, including a tax reduction on gas, sales and income.
“We’ve got to get to work to get costs down and the near-term opportunity for us is to cut taxes,” said Youngkin during the interview. “And in Virginia we have the ability to do it.”
Shortly following his appearance on national television, Youngkin’s office released a statement announcing that March revenue collections exceeded forecasts by 22.3%. Total revenue collections have risen 14.5% through March, well ahead of the revised annual forecast of 9.2% growth.
“This revenue report shows strong signs that Virginia is growing. I am encouraged by the strength we’re seeing in our economy when you look at steady job growth, wages rising and median family income increasing in the Commonwealth,” said Governor Youngkin. “With this report confirming and exceeding our mid-session general fund forecast we continue to see evidence that there’s plenty of money in the system to provide critical tax cuts and needed relief for Virginians struggling with rising gas prices and record-high inflation on groceries and the products they need every day.”
During the interview, Youngkin was asked if he had any political aspirations beyond the Governor’s mansion, hinting at a potential 2024 presidential run. Youngkin responded, “I’ve got a new job in Virginia and I’m extremely excited to be doing it.”
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