Virginia Gov. Glenn Youngkin (R) made clear he supports President Trump’s tariffs and cuts to federal jobs and spending, but took money from colleges to cushion impact.

RICHMOND, Va. (AP) — Republican Gov. Glenn Youngkin said on Friday that he would trim Virginia's budget by $900 million in light of next year's tax revenue projections, which could decrease as the White House's reshaping of federal spending spurs economic uncertainty in the state.

And in h The Congression Budget Office (CBO) estimates retired workers on Social Security will receive a 2.4% cost-of-living adjustment (COLA) in 2026. Economists surveyed by The Wall Street Journal expect tariffs imposed by Washington will significantly increase inflation in the remaining months of 2025.