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ICYMI: Governor Glenn Youngkin Proposes Car Tax Relief for Hardworking Virginians

Government and Politics

January 2, 2025

From: Virginia Governor Glenn Youngkin

ASSOCIATED PRESS: Youngkin Proposes Tax Relief on Tips and Cars in His Adjusted Virginia Budget Plan 

“We reopened Virginia’s economy after a global pandemic, all while delivering surplus after surplus after surplus,” Youngkin said in a presentation to the General Assembly’s money committees. "And as a result of our work together, Virginia is growing, Virginia is leading and Virginia is winning.”

RICHMOND TIMES-DISPATCH: Youngkin pitches $1.1 billion plan to rebate local car tax

The car tax plan is the centerpiece of tax policy changes that Youngkin is proposing in revisions to the two-year budget that he signed in May. It also includes a plan to exempt tips from income tax, which he had pitched on Monday, and a proposal to maintain standard deductions of $8,500 for individuals and $17,000 for couples on state income tax returns beyond their scheduled expiration at the end of next year.

THE VIRGINIAN-PILOT: Youngkin proposes 3-year car tax relief plan in new budget amendments

Gov. Glenn Youngkin is emphasizing tax relief and continued investment in education in his proposed amendments to Virginia’s existing two-year budget, which he presented to the General Assembly money committees Wednesday. The Republican governor’s signature tax policy proposal is the investment of $1.1 billion in car tax relief in the form of a credit for individuals earning less than $50,000 and joint filers earning less than $100,000.

WHSV: Youngkin proposes $1.1 billion in car tax relief

As part of his budget amendments, Governor Glenn Youngkin is making a proposal that could help millions of drivers in the Commonwealth. The governor plans to focus on car tax relief in his proposed budget.

THE CENTER SQUARE: Youngkin budget amendments would deliver tax relief, more education investments

Republican Gov. Glenn Youngkin emphasized tax relief and investments in education when he presented his fourth and final state budget Wednesday to the joint money committees of the Virginia House of Delegates and Senate. The governor titled the budget the “Keep Virginia Winning” budget, saying the Virginia government had been particularly effective in making Virginia “the best place to live, work and raise a family” these last three years.

WRIC: Youngkin unveils budget amendments, proposes plan to help offset the cost of the ‘hated’ car tax

Youngkin proposed new investments in K-12 education and potential changes to the state’s car tax. “The average car tax today for a family of four today for their one car if they have one car is about $290,” Youngkin told reporters on Wednesday.

LOUDOUN NOW: Youngkin Proposes $1.1B Car Tax Relief Fund

Several of Youngkin’s proposals for the second year of the commonwealth’s biennial budget focus on using the state’s surplus to reduce taxes. He said that helping Virginians “keep more of their hard-earned money in their pockets is not a Republican idea, it's not a Democrat idea, it's just common sense.”

CARDINAL NEWS: Money for Helene recovery and car tax relief included in Youngkin’s budget amendment proposal

Gov. Glenn Youngkin has proposed a permanent disaster relief fund to support Hurricane Helene recovery and a tax credit to relieve low- and middle-income Virginians of the car tax in his list of budget amendments to be considered in the upcoming legislative session. The disaster relief fund would include $127 million to help residents recover and rebuild in the Southwest region and to establish a standing pot of money to support recovery after future disasters that could take place across the commonwealth. 

WATCH: Youngkin proposes car tax credit for Virginia drivers

WATCH: Governor Youngkin unveils his Virginia budget plan

WATCH: Gov. Youngkin calls Car Tax 'most hated' as he proposes tax credit for some Virginians