Virginia General Assembly approves $205 B two‑year budget with new capped tax on data‑center power usage
The Virginia General Assembly approved a two‑year, $205 billion budget that funds health‑care, public education and a 4% raise for teachers. To break a deadlock, Democrats and Republicans agreed on a new, capped tax on the power consumption of data centers, while preserving existing tax incentives for the industry. The tax proposal sparked a heated debate, with some legislators warning that altering the data‑center break‑even could deter future investment, especially in rural areas that rely on the facilities for jobs and tax revenue. Business leaders and some voters expressed concern over higher costs, while others praised the move as a necessary step to balance the state’s finances.
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Virginia legislators propose new tax on data centers’ power usage to break budget deadlock
Democratic leaders in the Virginia General Assembly reached an agreement on a state budget with a compromise on taxing data centers. The proposed budget agreement, announced last Friday evening, kept ...
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