Virginia reported that general fund revenues exceeded forecasted revenues by $1.2 billion dollars in Fiscal Year 2024, continuing a trend of surpassing revenue projections in recent years. The state's conservative revenue projections have led to a surplus of over $3.0 billion in the last two years. Despite the revenue growth, the Democratic-led legislature formulated budgets based on lower revenue projections and implemented tax increases, prompting calls for tax reductions to benefit citizens and businesses. Del. Joe McNamara, a Republican legislator, tells the Cardinal News he wants to see realistic revenue projections and action to lower tax burdens in Virginia to remain competitive with other states.
Many in Virginia wonder what's in store for them from Tropical Depression Debby.Preview: NASCAR is coming back to Richmond, and there are plenty of events leading up to the big race. Richmond International Raceway is hosting days of pre-race events starting Wednesday with Track Laps for Charity. Drivers can donate 20 dollars to take five laps around the track in their personal vehicle. The money raised is going to the Autism Society of Central Virginia and Richmond Raceway Cares. Events will continue Thursday and Friday before the Craftsman Truck Series race Saturday and the Cook Out 400 NASCAR Cup Series race on Sunday. You can get more info at RichmondRaceway.com.