RICHMOND, VA (CVILLE RIGHT NOW) — Republican Gov. Glenn Youngkin said Thursday that Virginia’s economy is thriving after ending its fiscal year with high revenues, a characterization Democrats criticized as rose-colored in light of budgetary decisions in neighboring Washington, D.C.

In a presentation to the state’s money committees, Youngkin and Virginia’s secretary of finance said revenues for the fiscal year resulted in a $572 million surplus and a $4.7 billion rainy-day fund. Economic output in the state grew by about 1 percent higher than initially forecast, officials said.

“The strength and success we see today is no accident. It is the result of very intentional decisions made by all of us — intentional decisions to lift up opportunity in the Commonwealth of Virginia,” Youngkin said in his speech to lawmakers. “And these decisions are yielding dividends. They’re enabling us to compete and to win.”

Democratic lawmakers were quick to push back, particularly in light of looming Medicaid work requirements for some adults after Congress passed a reconciliation bill last month. Youngkin repeatedly said Medicaid will not be taken away from Virginians, and Secretary of Finance Stephen Cummings added that hospitals will be able to absorb any additional costs from federal cuts to Medicaid.

Senate Democratic Majority Leader Scott Surovell cited an analysis from the Congressional Budget Office this year estimating that roughly 11 million Americans will lose access to Medicaid.

“The governor stood up here and said a million times, repeatedly, that nobody is coming to throw out Medicaid,” Surovell said. He added that the CBO, which “America relies upon to tell us the answers to these things, tells us that millions of Americans are going to lose their Medicaid.”

Democrats also said the governor is not fully acknowledging that the White House’s reshaping of the federal workforce will continue to impact the state’s economy. The job losses that factored into Youngkin’s assessment did not include federal workers who took buyouts and are still receiving payments until later this year, Cummings said.

But Republican House Minority Leader Terry Kilgore praised Youngkin’s presentation, calling it “the kind of news every Virginian should cheer.”

“It happened because Republicans have kept a steady hand on the wheel,” Kilgore said.