Members of the Virginia General Assembly are already hard at work balancing the books for the budget this year. And, one of the top agenda items for the new Republican governor is fulfilling a campaign promise about veterans.
On the campaign trail, Glenn Youngkin frequently talked about tax cuts for veterans. Now that he's been inaugurated, he's hoping to follow through on that promise.
"The care and support of our veterans have always transcended politics and been bipartisan," Youngkin says. "That's why I'm asking this General Assembly to act on something long talked about. Let's eliminate the tax on the first $40,000 in military retirement pay, and let's do it together."
Lawmakers are now considering a bill submitted on the governor's behalf by Senator Bryce Reeves, a Republican from Spotsylvania who served as an Army captain and airborne ranger.
"I've always just felt a calling to take care of those who have borne the scars of war and their families and their dependents," Reeves says. "And I think if we're asking that next generation to step forward and serve, they're going to look at how they're treated after they're done with their service."
The estimated cost of giving vets that $40,000 tax break on their retirement benefits is about a quarter of a billion dollars each year. Lawmakers still need to figure out how they’re going to balance the books, and which priorities will make it into the final budget.
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
