RICHMOND, VA (CVILLE RIGHT NOW) – Virginia Governor Glenn Youngkin certainly has a full plate these days, trying to campaign for his current Lieutenant Governor Winsome Earl Sears to succeed him, while also attending to various duties as he enters the sunset of his administration.  One of the other obstacles he has faced is Senate Democratic opposition to his appointments to the governing boards of three institutions of higher education.  Add to that federal job losses due to cuts by the Trump administration and you get a rather full plate.  However, the Governor does have something regarding fiscal issues in the commonwealth that he can point to as a positive.  The Governor announced on Tuesday that FY25 general fund revenues have exceeded projections by $572 million dollars and the total revenues were up $1.78 billion which is 6.1 % over the revenues for FY24.  “Virginia has never been in a stronger position financially,” Governor Youngkin stated in a news release. “Virginia outperformed original projections for fiscal year 2025 by nearly $2.7 billion enabling us to provide $1 billion of additional tax relief, fully-fund Medicaid and other critical services, and continue our historic investments in K-12 education. The fiscal management of our administration has collectively led to four consecutive years of surplus revenues and unexpended balances of approximately $10 billion.”

As expected the Governor will look to point to the policies of his administration for the surplus in general revenues but the question remains, will it be enough to help Lieutenant Governor Winsome Sears, John Reid and Jason Miyares gain momentum in the poles by focusing on the surplus, and economic issues while the Democratic state wide ticket has placed an emphasis on reproductive rights and healthcare.  Governor Youngkin continued the emphasis in his release stating the following: “Since 2022, Virginia’s strong financial performance has enabled us to provide record investments and deliver $9 billion in tax relief to lower costs for Virginia families and businesses.  Our historic investments in education, law enforcement, behavioral health and economic site development have positioned Virginia to compete and win more than $125 billion in capital commitments from companies who see their future here in the Commonwealth. This virtuous cycle of lower tax burdens, making strategic investments in critical areas and competing for historic economic development projects reinforces Virginia’s status as the premier destination for talent and investment.”

It is also highly likely that these numbers will become a data point for both Republicans and Democrats running for office this November with all 100 House of Delegate Seats up for grabs in the Commonwealth.  Conservatives will tout the rhetoric of tax relief and fiscal conservatism, while Democrats will point to the need to use the surplus to invest in education and healthcare, especially with cuts to Medicaid headed to Virginia with the passage of the “One Big Beautiful Bill Act.”  Virginians will be faced with the choice this November, with higher revenues in the state coffers, is there a direct benefit to their particular financial circumstances.