Virginia revenue forecast jumps by $1.5 billion as budget talks continue

Virginia’s revenue forecast increased by $1.5 billion over three fiscal years, providing lawmakers more flexibility as budget negotiations remain stalled over disagreements on data center tax incentives and spending priorities. The updated projections show higher-than-expected General Fund revenues for 2026–2028, with lawmakers set to reconvene in June to finalize a budget before the June 30 fiscal deadline.