Glenn YoungkinGovernor of Virginia, replacing the outgoing Ralph Northam, and ending an eight-year-long run of Democratic leadership.
Youngkin is a political novice who has spent more than two decades at Washington, D.C.’s private equity firm. The Carlyle Group. Youngkin joined the company in the 1990s and became co-CEO in 2018. He oversees the group’s real estate, energy and infrastructure businesses.
Youngkin ran on his business background and promised to cut taxes from day one, reduce regulation, and increase employment. He also pushed for the hot-button issues which are currently energizing Republicans. This included opposition to COVID-19 and the teaching of critical racism theory in schools. This is a national conflict, particularly in Virginia.
Youngkins’ experience in finance and real property has been a hindrance to his ability to provide a plan for the majority of issues that directly affect realty. He was actually quite hands-off when it came to affordable housing.
It is up to the local authorities to decide. During a debate with the Democratic candidate Terry McAuliffe,When asked about affordable housing. He then quickly returned to a more general campaign talking point, saying, “I think the biggest challenge we have in affordable housing is the mound of regulations piled on businesses in the last eight years.
Youngkin will inherit a record breaking $2.6 billion budget surplus. This is a great place to start. Youngkin will not be able to implement his agenda due to the fact that Democrats retain a 21-19 majority of the Virginia Senate. This means that he won’t have full control to pass his agenda which includes expanding charter schools and giving raises in law enforcement.
Youngkin has promised to lower property tax, double the standard income-tax deduction, offer a tax rebate and eliminate a gas or grocery store tax. This will fund K-12 education and transportation.
Critics are concerned that tax cuts could only mean service cuts, but here he could face opposition from Republicans.
If we think it’s possible, and the numbers are in order, we should absolutely consider it, Republican Del. Barry KnightVirginia House Appropriations Committee (which controls the state budget) is expected to be chaired by. Telled The Washington Post In November 2021. He stated that lawmakers would only consider tax cuts if they were possible without cutting services.
Youngkin has also made clear what his priorities are in the environment area by promising to pull out an 11-state regional market for carbon by executive order and by nominating a controversial pick to oversee the state’s natural resource management.
Youngkin nominates former coal lobbyist Environmental Protection Agencychief Andrew Wheelerto the position. Democrats hate Wheeler after his tenure as President Donald TrumpEPA chief because of his history of destroying existing protections during the Obama-era, including the Obama coal ash rule and key provisions within the Water Protection Act. Before Wheeler can assume this role, he must be confirmed by the Senate.
Youngkins’ personal property, which includes his 30-acre horse farm, was successfully protected by the Conservation Site designation, which reduced his property taxes by 95 per cent.
Chava Gourarie is available at [email protected].
