OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Amid Inflationary Pressures, February General Fund Revenues Remain in Line with Forecast

Press Release

Date: March 15, 2024
Location: Richmond, VA
Issues: Budget, Spending and Taxes Economy and Fiscal

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"The Commonwealth's February revenues show that our conservative forecast remains prudent as mixed labor market signals and the persistence of inflationary pressures continue to impact the outlook for interest rate reductions and the economy. As we continue to monitor withholding and non-withholding patterns, this month's report reinforces the importance of advancing a budget that does not raise taxes but rather empowers job creation and fosters a business environment that moves Virginia forward, not backward."

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