The Senate Finance and Appropriations, House Appropriations, and House Finance Committees met on August 14, 2025, to receive remarks from Governor Glenn Youngkin and a presentation from Secretary of Finance Stephen Cummings on Virginia’s fiscal performance in FY 2025 and outlook for FY 2026

Also on August 14, the bipartisan Emergency Committee on the Impacts of Federal Workforce and Funding Reductions met to assess the potential effects of federal policy changes and budget cuts on Virginia’s economy. The committee received an interim update presentation from staff on the preliminary impacts and the committee’s work, a presentation from the Virginia Department of Medical Assistance Services on Medicaid impacts, a presentation from the Virginia Health Benefit Exchange on the impacts of the expiration of expanded premium tax credits, and a presentation from the State Council of Higher Education for Virginia on the impact of federal changes to higher education.

More information about key takeaways and findings from the meetings on August 14 can be found here.

This insight comes from the Virginia Chamber of Commerce