Virginia will draw from planned employee raises and its rainy day fund to help close an estimated $1.5 billion budget shortfall in the two-year budget, Gov. Terry McAuliffe told lawmakers Friday.
Recent job gains have been in lower-paying positions, McAuliffe said, contributing to a lack of sales and income tax revenue.
Revised numbers for fiscal 2017 reduce revenue by about $564 million, McAuliffe told members of the General Assembly’s money committees. He said the state could use about $378 million from the rainy day fund and divert about $125 million from money reserved for pay increases to help address the projected shortfall for fiscal 2017.
The two-year budget totals more than $100 billion.
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8 comments:
Hey VA - whatcha gonna do when the MGM Casino opens up right across your border and your Northern VA high rollers take their money to MD?? You think you have a shortfall now - just wait! Your 19th Century gov't mindset really needs to change and fast!
But please don't change your gun laws! 😎
Awesome.Guess that should offset the democrat felon vote! since these pissed off state employees once again pay the piper?
Ask the Clintons for some not the employees!!!
I'm sure the Clinton mob can funnel money from their "foundation" to their buddy McAuliffe mouse.
Virginia needs to accept more illegal refugees. But he will not cut their money they don't deserve or not receive until they work for it.
As usual the state employees are the ones to suffer.
maybe you spend to much?
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