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Home – Virginia Politics & News – Virginia Democrats Finalize Sweeping Budget Deal

Virginia Democrats Finalize Sweeping Budget Deal

Virginia’s governing Democrats played let’s make a deal to pass a two-year budget that will take effect next week.

The state lawmakers opted to maintain a tax break that encourages companies to build data centers in the commonwealth. They offset that by imposing a new tax on the energy that those centers will use.

Gov. Abigail Spanberger is taking credit for the idea.

“Importantly, this budget positions the commonwealth to be a national leader on data centers,” she announced. “Virginia will institute a statewide energy consumption tax on data centers—an idea I first proposed this spring—to ensure this industry pays its fair share and does not drive up costs for Virginia families.”

Lawmakers hope the new policy can raise $1.2 trillion over the next two years. They promised to cap it at $600 million per year and refund any amount over that to companies at the end of the fiscal year.

“This compromise will bring hundreds of millions of dollars into our budget and at the same time make sure that they are paying their fair share,” Democrat Del. Sam Rasoul told WSLS after the proposal passed.

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