Revenue Plunge Leads Virginia Governor To Push For Budget Trims

(Reuters) - Virginia should tap its reserves and lottery funds, as well as use unspent money from various accounts to make up for falling revenues, newly installed Governor Terry McAuliffe said on Wednesday.

The grim outlook for a state that has thrived fiscally in recent years comes days before the legislature begins finalizing a $96 billion proposed budget for the next two years. Budget committees in both chambers are expected to release their spending plans for Virginia on Sunday.

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