Virginia’s Future Hangs in the Balance as Legislature Reconvenes

The General Assembly is back in town today for its [hopefully] one-day Reconvene ("Veto”) Session to review Governor Northam’s amendments to bills that were passed and the 2020-2022 budget to address the looming financial crisis.  The bigger story may end up being how business is conducted by both chambers while maintaining social distancing.  Nevertheless, this could be the most consequential Veto Session in Virginia history – one that will likely chart Virginia’s financial course for years to come.     

As Virginia’s economic uncertainty continues and many families struggle to make ends meet in the wake of COVID-19, the financial outlook for Virginia’s government is cloudy as well.  As reported by Aubrey Lane, the Secretary of Finance, Virginia tax revenues are expected to be at least $2 billion less than budget projections. And that projection was weeks ago. With this looming revenue shortfall, coupled with a bloated budget filled with new spending initiatives, our elected officials will have a difficult time funding all their new programs and pet projects (such as $25 million for a new Capitol tunnel). And that’s certainly not all bad.

While many legislators appear eager to get Wednesday over with and conclude a contentious 2020 session, there’s the possibility of a special session to give state lawmakers and agency officials more time to assess the financial impact of COVID-19.  With a new legislative majority that’s willing to increase minimum wage, expand gambling, and raise energy costs at a time when Virginians are struggling and fearful, it wouldn’t be surprising if they still attempted to increase taxes even more.  However, taking more money out of the hands of Virginians when so many are losing their jobs would be devastating. Raising any taxes or doing anything that burdens businesses during a sluggish economy would be dangerous and reckless.  

There’s also the intrigue about the way the House and Senate are preparing to conduct business today.  While the Senate secured a location at the Science Museum that will accommodate in-person voting, the House is preparing to conduct business outside under a tent.  What’s most alarming is that Speaker Eileen Filler-Corn is pressing for “remote voting” over the course of three days, which would be a major affront to the democratic principles that have shaped our Commonwealth for 400 years!

A lot is on the line this Veto session, and we’ll update you with the results. 

Also, please plan to join The Family Foundation and Delegate Kathy Byron tomorrow Thursday, April 23, at 12:00 noon, to recap everything that happened at today’s Veto Session.  And don’t forget to encourage your family and friends to also join us for what we believe will be another informative discussion!

To join us for tomorrow’s VIP Chat, you will need to register through GoToWebinar below.  After registering, you will receive a confirmation email containing information about joining the webinar.  During the webinar, you will be muted in order to avoid any unnecessary distractions for the speakers, but you will be able to submit questions using the "Question" feature.

There’s still time to register!  Please don’t miss-out on another great opportunity to hear directly from a state legislator about important legislative and policy issues!

Update: listen now to VIP Chat with Del. Byron here.