RICHMOND, Va. -- The Republican-controlled Virginia House and Democrat-controlled Senate have signed off on their own versions of a two-year state budget.
The versions of the legislation that passed Thursday have some similarities, including raises for state employees and deposits to the state’s reserves and retirement system. But with regard to tax policy they are about $3 billion apart, resulting in differing allocations to certain government services and initiatives.
The budget process is still in an early stage.
Lawmakers will have to hash out a compromise between the two versions before it goes to Gov. Glenn Youngkin, who will then get a chance to seek amendments.
