This Week From Del. Matt Fariss

When we adjourned Sine Die on March 12, there was a great deal of work left to be done. House Republicans were ready to stay and keep working on the budget and other important legislation that remained in conference. The House position on the budget remains the same as it was on March 12: tax relief for hard-pressed Virginia families is a priority.

Special Session convened Monday April 4th. Conferees are still working on the budget, and we will return to Richmond to vote 48 hours after they have come to an agreement. Under Virginia law, the budget must be finalized at least 48 hours before July 1, when the budget goes into effect.

Gov. (Glenn) Youngkin has sent legislation to the General Assembly to suspend the state gas tax for three months. That tax is just over 26.2 cents per gallon and 27 cents for diesel. The Governor’s proposal would suspend the state gas tax for May, June and July then phase it back in during August and September.

Gas tax revenue has traditionally been deposited in the Commonwealth Transportation Fund with a portion of the Virginia sales and use tax. The Commonwealth Transportation Fund funds maintenance and construction projects and currently is seeing revenue well above what was forecasted. The office said the fund has $671.4 million in unanticipated revenue in fiscal year 2022 and $457.6 million in fiscal year 2023.

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