Global Economy 2026-02-04 16:03:22


Son of former Libyan dictator Muammar al-Qaddafi killed by masked men, reps say

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Seif al-Islam al-Qaddafi, the son of the late Libyan dictator Muammar al-Qaddafi, was reportedly killed by “four masked men,” according to his team.

The 53-year-old was killed in the town of Zintan, which is located southwest of the country’s capital, Tripoli, according to The Associated Press, which cited Libya’s chief prosecutor’s office. The office said he was shot to death, but did not provide other details, according to the AP. Additionally, the outlet said that Khaled al-Zaidi, a lawyer for Seif al-Islam, confirmed his death on Facebook.

The “masked men” allegedly stormed Seif al-Islam’s home and killed him in a “cowardly and treacherous assassination,” the AP reported, citing Seif al-Islam’s team. The team also claimed in its statement that the assailants closed the CCTV cameras at the house “in a desperate attempt to conceal traces of their heinous crimes,” according to the AP.

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Born in 1972, Seif al-Islam was the second-born son of longtime dictator al-Qaddafi. He was educated at the London School of Economics, where he studied for a Ph.D.

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Seif al-Islam, who was seen by many as Libya’s face to the West, has been described as the most influential man in the country, despite the fact that he did not hold an official position. He led the talks on Libya abandoning weapons of mass destruction and negotiated compensation for the loved ones of those killed in the 1988 bombing of Pan Am Flight 103, Reuters reported.

Muammar al-Qaddafi, who ruled Libya since 1969, was toppled and killed in a NATO-backed popular uprising in 2011. The uprising led to a civil war, and the country has since become divided between rival armed groups and militias, the AP noted. In late 2011, Seif al-Islam was captured by fighters while trying to flee to Niger and was later released in June 2017 when one of Libya’s rival governments granted him amnesty, according to the AP.

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In November 2021, Seif al-Islam announced his candidacy in the country’s presidential election, but was eventually disqualified by Libya’s High National Elections Committee, the AP reported.

Two convicted of terrorism in Denmark for grenade attack near Israeli Embassy

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Two Swedes were convicted in a Danish court of terrorism and attempted murder for detonating two hand grenades near the Israeli Embassy in Copenhagen in October 2024.

The younger of the two men, who is 18 years old, was sentenced to 12 years in prison, while his older accomplice, aged 21, was sentenced to 14 years, according to The Associated Press, which cited Swedish news agency TT. The two men, who have not been identified, were said to be acting on behalf of a criminal gang, the AP reported.

The attack occurred on Oct. 2, 2024, when the two threw hand grenades towards the Israeli Embassy in Copenhagen. The grenades detonated on the terrace of a residential building, which was inhabited by a family with children, according to the AP. No one was injured in the blasts. The nearby Jewish school, Carolineskolen, was closed when the attack took place.

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The two men admitted to throwing the grenades, but denied being ideologically motivated, saying they did it for money, the AP reported.

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The Danish court was reportedly split on whether the two should be convicted of terrorism. Two judges and four jurors concluded that they were guilty, while one judge and two jurors disagreed, according to the AP, which cited TT.

At the time of the attack, Israel’s war in Gaza had been ongoing for nearly a year following Hamas’ Oct. 7, 2023, massacre that left 1,200 dead and resulted in the taking of 251 hostages. Throughout the war, Jerusalem faced international scrutiny as world leaders debated whether the Israel Defense Forces’ actions in Gaza were excessive.

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The war ended in October 2025 with a peace deal brokered under the Trump administration.

State Department issues security alert amid ‘heavy gunfire’ near US Embassy in Haiti

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The U.S. Embassy in Port-au-Prince, Haiti on Saturday alerted U.S. citizens of ongoing security operations north and south of the embassy and in Croix-de-Bouquets. 

Heavy gunfire was reported in the Haitian capital, prompting U.S. government personnel to halt all movements, according to an alert from the Department of State.

The embassy remains open for emergency services.

Officials urged nearby U.S. citizens to avoid the area and monitor local media for updates.

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Armed gangs control large portions of Port-au-Prince and surrounding areas, according to the U.S. State Department and the United Nations Integrated Office in Haiti (BINUH). 

Croix-de-Bouquets, one of the areas referenced in Saturday’s security alert, has long been considered a “400 Mawozo” gang stronghold.

“400 Mawozo” gang leader Joly Germine, 34, of Croix-des-Bouquets, Haiti, was sentenced to life in prison in December for his role in the 2021 abduction of 16 American citizens, including five children, Fox News Digital previously reported.

US MARINES EXCHANGED GUNFIRE WITH SUSPECTED GANG MEMBERS IN HAITI, OFFICIAL SAYS

The victims, with Ohio-based Christian Aid Ministries, were on their way back from an orphanage when they were taken hostage, according to the Justice Department.

The State Department currently maintains a Level 4 “Do Not Travel” advisory for Haiti, citing kidnapping, crime, terrorist activity, civil unrest and limited healthcare.

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The State Department did not immediately respond to Fox News Digital’s request for comment.

UN faces severe cash crisis as Trump admin ramps up pressure on world body

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As the Trump administration slashes funding and exits multiple international bodies over criticism that the U.N. has failed to promote U.S. interests, the United Nations is warning it could face a cash crisis by July. 

In a Jan. 28 letter from U.N. Secretary-General António Guterres to ambassadors, he cited record unpaid dues and rigid budget rules that have left the organization exposed.

Guterres said the U.N. is trapped in a “Kafkaesque cycle” in which rigid budget rules force it to return “unspent” funds even when those contributions were never paid. He said outstanding dues reached a record $1.568 billion at the end of 2025 and that collections covered only 76.7% of assessed contributions, leaving the organization dangerously exposed.

Unless collections “drastically improve,” the secretary-general warned, the U.N. will not be able to fully implement its 2026 budget and could face a liquidity crisis by mid-year.

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A senior diplomatic source told Fox News Digital that the secretary-general himself bears significant responsibility for the deepening crisis, arguing that warning signs had been visible long before the current shortfall.

According to the source, major contributors had been pressing for efficiency and reform for years, yet meaningful action was delayed. When reforms were eventually introduced, the source said, they were applied broadly rather than through targeted cuts in areas where real savings were possible, harming even U.N. bodies considered central to the organization’s mission. “He is going to go down as the worst secretary-general in the history of the U.N.,” the source said.

TRUMP ADMIN EXIT FROM UN, INTERNATIONAL ORGANIZATIONS RAISES QUESTION OF WHO’S NEXT

The warning from Guterres comes as the United States, the world body’s largest contributor, has cut voluntary funding to multiple U.N. programs and declined to make some required payments, deepening the cash crunch described in the secretary-general’s letter.

Broader U.S. foreign assistance cuts under the Trump administration’s foreign policy realignment. In January 2026, the United States formally withdrew from the World Health Organization and began exiting dozens of international bodies, including multiple U.N. entities, citing misalignment with American priorities.

The funding squeeze has already forced the United Nations to tighten spending across several agencies. Separate Reuters reporting shows that U.N. bodies, including the World Food Programme and refugee agencies, are preparing layoffs and program reductions as overall contributions fall to the lowest level in a decade.

Hugh Dugan, former National Security Council special assistant to the president and senior director for international organization affairs, told Fox News Digital that the current turmoil reflects long-standing structural weaknesses rather than a sudden collapse.

TRUMP ADMIN WARNED TO TAKE FRONT SEAT AS UN CHIEF RACE SHIFTS LEFT, BOOSTING ANTI-US CONTENDERS

“We’ve heard this before,” Dugan told Fox News Digital, referring to repeated warnings from U.N. leadership over cash shortfalls.

Dugan said the organization has struggled for decades with inconsistent revenue and outdated financial practices, arguing that alarmist messaging is unlikely to restore donor confidence without visible internal reforms.

He said Guterres, who has roughly 11 months remaining in office, appears focused on ensuring the institution does not close on his watch.

“The doors will remain open, maybe just, but that’s his legacy,” Dugan said.

STATE DEPARTMENT DECLARES ‘INTERNATIONAL BUREAUCRACIES’ WILL NO LONGER GET ‘BLANK CHECKS’ FROM THE US

Asked about President Trump’s newly announced peace board, Dugan said it should not be viewed as a competitor to the United Nations or a replacement for its charter-based system.

“I don’t see it as a replacement of the principles of the U.N.,” he said, describing the initiative as operational rather than ideological.

Dugan compared it to past convening efforts such as the Clinton Global Initiative, saying it focuses on dealmaking and coordination rather than supplanting the international order.

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Despite mounting criticism of its performance and finances, Dugan said the U.N. continues to hold one enduring advantage.

Referring to the annual U.N. General Assembly debate, Dugan said, “When the U.N. calls a meeting today, it’s routine to have more than 100 heads of state in the room,” he said. “The power to convene is no small accomplishment.”

Trump admin labels Israel ‘model US ally’ ahead of major military aid talks

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Last week, Secretary of War Pete Hegseth released the 2026 National Defense Strategy (NDS), a Pentagon blueprint that elevates Israel as a “model ally” and translates President Donald Trump’s national security doctrine into concrete military policy.

“Israel has long demonstrated that it is both willing and able to defend itself with critical but limited support from the United States. Israel is a model ally, and we have an opportunity now to further empower it to defend itself and promote our shared interests, building on President Trump’s historic efforts to secure peace in the Middle East,” the NDS states.

The document is now influencing parallel debates over the future of U.S. security assistance to Israel and whether the next Memorandum of Understanding (MOU) should continue delivering traditional U.S. military aid to Israel amid dissenting voices that portray the alliance as a burden rather than a strategic asset.

DIRECT AID TO ISRAEL SHOULD BE PHASED OUT TO ‘REDUCE US LEVERAGE,’ INFLUENTIAL CONSERVATIVE GROUPS ARGUE

According to the strategy, Israel proved its ability and willingness to defend itself following the Oct. 7 attacks, demonstrating that it is not a passive partner but an operational force that supports U.S. interests in the region. The strategy emphasizes empowering capable allies rather than constraining them, building on President Trump’s earlier push for regional integration through the Abraham Accords.

Jonathan Ruhe, director of foreign policy at the Jewish Institute for National Security of America, said the strategy reflects a broader American shift toward partnerships that strengthen both U.S. security and domestic industry.

U.S. defense assistance to Israel in the MOU is spent in dollars here in America to support our industry,” Ruhe told Fox News Digital. “And like in the national security strategy, it then enables Israel to go and do more to protect U.S. interests.”

He said a future agreement would likely extend beyond funding alone. “A new MOU would also likely be broader and include things that are more 50-50 partnership, like joint research and development, co-production, intelligence sharing and things like that to reflect the changing partnership going forward,” Ruhe said.

The strategy also highlights the importance of revitalizing the American defense industrial base, noting that allies purchasing U.S. systems help strengthen domestic production while enabling partners to shoulder greater responsibility for regional security.

Avner Golov, vice president of the Israeli think tank Mind Israel, said the document makes clear that Israel is viewed not merely as a recipient of aid: “Israel is in the fight. We are protecting ourselves by ourselves. We just need the tools to do that. And by doing so, we enhance not only America’s standing in the Middle East, but also worldwide and contribute to the American economy.”

That framing comes as Israel and the United States prepare for negotiations over the next 10-year MOU, which governs U.S. military assistance to Israel. The current agreement, signed in 2016, provides $3.3 billion annually in foreign military financing, along with $500 million a year for missile defense cooperation.

The debate follows tensions during the Biden administration, when the White House paused the delivery of certain U.S. weapons to Israel in May 2024, including a shipment of 2,000-pound bombs. At the time, Netanyahu warned that Israel “will stand alone” if Washington halted weapons deliveries, reflecting concern that limits or delays in U.S. military support could undermine Israel’s readiness and deterrence. 

Experts have noted that U.S. leaders have not always approved every Israeli weapons request and that roughly 70% of Israel’s military imports come from the United States, underscoring the strategic calculus behind Prime Minister Netanyahu’s recent push for greater independent production.

Golov criticized that approach, arguing it risks prioritizing optics over readiness. “I believe that is a short-term vision,” Golov said. “In the long term, Israel must first be prepared for the next round of escalation. If we are not ready, we will face another war. If we are prepared, perhaps we can deter it.”

PENTAGON WARNS FUTURE WARS MAY HIT US SOIL AS ‘DIRECT MILITARY THREATS’ GROW

“Israel must remain the strongest army in the region, and that is also a fundamental American interest,” Golov said.

Ruhe said the debate reflects lessons learned from nearly two years of war. “You’ve got this sort of topsy-turvy world now where the Israelis are saying we don’t want to take any more U.S. money, and the Americans are saying, no, you’re going to take our money,” he said.

According to Ruhe, the conflict exposed vulnerabilities created by heavy dependence on U.S. supply chains and political delays.

“The war of the last two years showed that Israel can’t afford to be as dependent on the U.S. or continue to maintain the same defense partnership that it has because that creates a dependence,” he said. “Israel becomes vulnerable to U.S. shortages in weapons output or politically motivated embargoes and holdups that can impact Israel’s readiness.”

At the same time, Ruhe noted that Israel remains reliant on the United States for major platforms.

“Even Israel will say we’re utterly dependent on the U.S. for those big-ticket platforms,” he said, pointing to aircraft such as the F-15 and F-35 that Israel has already committed to purchasing.

For that reason, Ruhe argued that maintaining stable funding under the next MOU may be the most practical path forward.

“It’s actually much easier for Congress just to go ahead and approve that money,” he said, explaining that predictable funding reduces annual political battles on Capitol Hill.

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Golov said Israel’s long-term objective should not be reducing ties with Washington, but deepening them. “I don’t want to reduce dependency,” he said. “I want to increase contribution to America.”

He described the emerging vision as a fundamental shift in how the alliance is structured. “We are moving from a 20th-century aid model to a 21st-century strategic merger,” Golov said. “Israel is the only partner that delivers a 400% return on investment without asking for a single American soldier.”

Golov said the proposed framework is built around three pillars: an industrial defense ecosystem, a joint technology ecosystem and a regional ecosystem connecting Israeli innovation, Gulf infrastructure and American power.

He emphasized that maintaining U.S. security assistance during the transition period is critical.

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“We need a final ten-year ‘bridge’ with the current security aid MOU,” Golov said. “A sudden cut would be a dangerous signal of American retreat to our enemies and may hinder IDF preparedness.”

“I don’t know who the next president of the United States will be,” he added. “This is where our enemies can read it in a very dangerous way.”

Trump warns UK it’s ‘very dangerous’ to do business with China after Starmer’s Beijing meeting

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President Donald Trump warned the U.K. Thursday against strengthening ties with China hours after Prime Minister Keir Starmer met President Xi Jinping in Beijing to reset relations after a long period of strain.

Trump’s remarks came as Starmer and Xi had called for a renewed “strategic partnership,” highlighting the pressures facing them amid global instability.

Speaking to Fox News while traveling to Florida for the premiere of first lady Melania Trump’s documentary, Trump was asked about the U.K. “getting into business with China.”

“Well, it’s very dangerous for them to do that,” Trump said. “And it’s even more dangerous, I think, for Canada to get into business with China.”

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Trump added that China was not the solution for Western economies despite his personal relationship with Xi. “I know China very well. I know President Xi is a friend of mine, and I know him very well, but that’s a big hurdle to get over,” he said, before joking that Beijing might ban Canada from playing ice hockey. 

“That’s not good. Canada’s not going to like that,” he added. 

Trump had previously criticized Canadian Prime Minister Mark Carney after Carney’s visit to China and warned then that “China will eat Canada alive.”

Trump’s latest comments followed an 80-minute meeting in Beijing between Starmer and Xi in which the leaders sought to thaw relations after several years of diplomatic chill.

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The Associated Press reported that neither leader mentioned Trump directly in their discussions Thursday.

“In the current turbulent and ever-changing international situation, China and the United Kingdom need to strengthen dialogue and cooperation to maintain world peace and stability,” Xi told Starmer, according to Chinese state broadcaster CCTV.

Xi also warned that if major powers failed to uphold international law, the world risked sliding into a “jungle.”

Starmer said cooperation on climate change and global stability was “precisely what we should be doing,” The Associated Press also reported.

The outlet also reported that Starmer described the meeting as “very productive” and mentioned progress on whisky tariffs, visa-free travel to China for British citizens and cooperation on migration.

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As previously reported by Fox News Digital, Starmer sought Xi’s help to disrupt the supply of China-made small boat engines that the U.K. leader’s office says are used to smuggle people across the English Channel.

He also raised human rights concerns and the Iran nuclear program.

Starmer is the first British prime minister to visit China in eight years and the fourth U.S.-allied leader to do so this month, signaling a push by Beijing to re-engage Western partners.

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The visit also came as the U.K. navigates trade alignment with the U.S., defense cooperation in Arctic regions and negotiations over the sovereignty of the Chagos Islands.

In November, the U.S. and China reached a deal easing some tariffs and export controls, boosting U.S. agricultural exports, curbing fentanyl precursor flows and relieving pressure on American semiconductor and shipping companies.

Fox News Digital has reached out to the White House for comment.

80-year-old lottery winner sentenced for bankrolling $400M drug empire from cottage with son

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Authorities announced Wednesday that an elderly man who used his 2010 lottery winnings to run a drug empire from his cottage alongside his son and two accomplices, has been sentenced to jail.

John Eric Spiby, 80, was sentenced to 16 years in prison in England after an investigation uncovered counterfeit pills worth up to $400 million, Greater Manchester Police said. His son, John Colin Spiby, 37, was sentenced to nine years.

“They operated a fully industrialized drug manufacturing business capable of producing millions of counterfeit tablets containing a highly dangerous substance,” Alex Brown, detective inspector of the Serious Organized Crime Group that led the investigation, said in a statement. 

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“The volume of tablets we recovered — along with the sophisticated machinery — demonstrated how deeply embedded this group was in the illicit drug supply chain.”

Local United Kingdom outlet LBC reported that Spiby won the National Lottery in 2010, at around 65 years old, cashing in £2.4 million, equivalent to roughly $3.3 million in 2026.

During the sentencing, Judge Nicholas Clarke KC told LBC that, “despite your lottery win, you continued to live your life of crime beyond what would be a normal retirement age.”

Sometime between November 2021 and May 2022, Spiby equipped his cottage behind his home with an “industrial‑scale tablet manufacturing set-up capable of producing tens of thousands of tablets per hour,” police said. According to a court hearing, they were also able to “hide” his lab by frosting the windows, LBC reported. 

The organization allegedly produced counterfeit diazepam tablets, also known as Valium, laced with etizolam, a substance banned in the U.S. normally prescribed for insomnia and anxiety. In high doses, etizolam can cause severe central nervous system depression, potentially leading to unconsciousness, respiratory failure and death.

The group also facilitated and supplied firearms including AK‑47s, an Uzi, Tec‑9s, a Scorpion, a Grand Power pistol, silencers and ammunition, police said. 

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In the early stages of the operation in August 2020, the group reportedly operated “under the guise of a lawful business” by creating a fake company along with a website advertising tablet presses, mixers, packaging machines and powdered supplements.

During the operation, the suspects rented a shipping container to store materials and millions of counterfeit tablets awaiting distribution. Officers, however, intercepted them in April 2022 and found a vehicle containing 2.6 million counterfeit diazepam tablets with an estimated street value between $1.4 million and $7 million. 

The following month, a warrant led to the seizure of guns, ammunition, cash, machinery, counterfeit drugs and raw materials.

Police estimated the crime ring produced drugs with a potential street value equivalent to roughly $80 million to $400 million.

Of the other two accomplices, Callum Dorian, 35, received a 12‑year prison sentence in September 2024, while Lee Ryan Drury, 45, was sentenced to nine years.

The four members faced charges that included conspiracy to produce and supply Class C drugs, conspiracy to supply firearms, possession of firearms and ammunition and perverting the course of justice.

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“These four individuals showed absolutely no regard for human life or public safety,” Brown said. “All they were interested in was lining their own pockets with significant financial gain.”

Fox News Digital reached out to Greater Manchester Police for more information. 

Trump files $10B lawsuit against IRS over alleged tax return leaks to major news outlets

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President Donald Trump has filed a $10 billion lawsuit against the IRS, accusing the agency of unlawfully leaking his confidential tax returns in a politically motivated violation of federal privacy laws.

A spokesman for Trump’s legal team told Fox News “a rogue, politically motivated” IRS employee disclosed private and confidential tax information involving Trump, his family and the Trump Organization to outlets, including The New York Times and ProPublica.

The suit claims the disclosures were illegal and harmed millions by violating federal privacy laws.

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That contractor at the heart of the leak, Charles Littlejohn, pleaded guilty in October 2023 to a single felony count of unauthorized disclosure of tax return information and is serving a five-year prison sentence.

Littlejohn admitted to stealing and leaking Trump’s tax records to The New York Times and to disclosing confidential tax data involving wealthy individuals to ProPublica.

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According to the lawsuit, Littlejohn testified in a 2024 deposition that the Trump materials he leaked included information on all of Trump’s business holdings.

As previously reported by Fox News Digital, Littlejohn refused to testify before Congress, invoking his Fifth Amendment rights while appealing his sentence.

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According to a June 2025 Judiciary Committee press release, DOJ prosecutors said Littlejohn’s disclosures were “unprecedented in its scope and scale.” 

Virginia Democrats seek dozens of new tax hikes, including on dog walking and dry cleaning

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Virginia Democrats have introduced a host of new tax proposals that would tax a range of services, including dog walking and gym memberships despite running on a campaign to increase affordability. 

More than 50 proposals and new rules were introduced for the new legislative session, including additional local sales tax in all Virginia counties and cities, 7News reported.

The new proposed policies include:

  • dog walking and grooming tax
  • gun and ammunition tax
  • new income tax brackets
  • storage facility tax
  • dry cleaning tax
  • home repair tax
  • new personal property tax on electric leaf blowers and electric landscaping equipment

ELECTION REFLECTION: ‘DEMOCRATS FLIPPED THE SCRIPT’ ON AFFORDABILITY IN BALLOT BOX SHOWDOWNS

A delivery tax would apply to deliveries made by Amazon, Uber Eats, FedEx and UPS orders in northern Virginia. 

In 2025, Democrats picked up several seats in the House of Delegates, resulting in a large Democratic majority. The party also holds a majority in the state Senate. 

“Virginians should judge Democrats by their actions, not their campaign slogans,” Republican state Senator Tara Durant told Fox News Digital. “And their actions speak for themselves—pushing dozens of new tax proposals that raise costs on hardworking families. Virginians deserve leadership that actually makes life more affordable, not more expensive.

Fox News Digital has reached out to House Speaker Don Scott and State Senator Majority Leader Scott Surovell about the potential tax increases, asking how they would make Virginia more affordable, as well as what the additional tax revenue would be spent on. 

Newly sworn-in Gov. Abigail Spanberger ran on a platform of making Virginia more affordable. 

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After taking office earlier this month, she said the state will rejoin the Regional Greenhouse Gas Initiative (RGGI), which will add a fee to monthly electric bills. 

Americans For Tax Reform, a group that advocates for lower taxes, criticized the proposals, saying state Democrats were seeking to do the opposite of neighboring states, which are trying to lower taxes. 

“It’s always a bad time to raise taxes, but it would be particularly foolish for Governor Spanberger and the Democrats who now control Richmond to do so at this time of heightened state tax competition,” said ATR leader Grover Norquist. “Governors and lawmakers in other states aren’t just seeking to reduce income taxes and other levies, they’re pursuing full tax elimination in many state capitals.”

“For individuals, families, and employers who wish to avoid the hostile tax policies pursued by Democrats in Richmond, they have plenty of options close by,” he added. 

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Fox News Digital has reached out to Spanberger, the Virginia Republican Party, as well as Scott and Surovell.

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