Key Budget Amendments for Economic Security: An Overview of House and Senate Proposed Budgets
March 12, 2026
After several months of negotiations and discussions among key decision makers, the General Assembly has reached an agreement on the budget. This year’s budget had notable investments in early education, foster care, and children’s mental health through bipartisan support. Since budgets are a reflection of priorities, we believe there are improvements Virginia can make to demonstrate its commitment to young people in the commonwealth.
Notable investments in the final budget compromise include:
We are proud to stand by the youth and young adults who advocated with us for these investments. And we will continue to speak up for policy changes designed to meet their needs.
As one of our youth advocates said,
– (Aaliyana, 16 years old).
While these initiatives will continue to create new opportunities for young children to grow and thrive, the foundation of their success is economic stability. The rate of children experiencing poverty has remained consistent for decades in Virginia with persistent racial disparities in the percentage of Black and Latino children living in poverty than their White peers. A solid foundation for child well-being rests on a solid financial foundation for their families.
As a significant commitment to families, the General Assembly approved a partially refundable Earned Income Tax Credit (EITC):
The refundable EITC for families demonstrates that lawmakers can take necessary action to address long-standing challenges for families that were exacerbated by the pandemic. There will be more work to do to ensure that families receive economic support and stability that will address decades-long trends in child poverty and ever-increasing material hardship experienced by families across the state.
March 12, 2026
March 12, 2026
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