Budget

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President Obama’s budget revived a debate at the Capitol over energy policy and climate change. 

As lawmakers like to say, “budgets embody values,” and on the Hill there’s no question over whether the president’s budget shows his values in regards to the nation’s energy sector. He wants to hike clean energy spending by seven percent and offer a myriad of states some four billion dollars if they clean up their air at a quicker pace. Virginia Republican Congressman Morgan Griffith says the budget would be another blow to his southwestern district.      

There’s good news from the Governor and the heads of the General Assembly’s money committees. Despite dealing earlier with a significant revenue shortfall, the state is now seeing a $338-million revenue bump from withholding through corporate income tax and insurance premiums.

It amounts to $162 million more over the biennium after a $176 million  deposit into the Rainy Day Fund. Governor McAuliffe says it provides a little extra money to spend as the budget is crafted.

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President Obama is sending a $4 trillion budget to Congress this morning, and Democrats in the region are glad it calls for lifting budget caps on most federal agencies.

Remember sequestration? It’s those indiscriminate budget cuts that rip through most every federal agency. Many first term lawmakers like Virginia Democratic Senator Tim Kaine say it’s dumb for that deal to tie lawmaker’s hands now.

VA Lawmakers Hoping for a More Productive 2015

Dec 31, 2014
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Virginia lawmakers are bemoaning the meager work accomplished in Washington in 2014. A look at how some lawmakers fear 2015 may once again bring stiff budget cuts that would hurt the state’s economy. 

Budget Update from VA's Governor

Dec 17, 2014

Governor McAuliffe told the General Assembly’s money committees Wednesday that while they made great strides in closing the state's budget shortfall, much more needs to be done to secure Virginia's future. 

He says that's  why he will continue to implement nearly $954 million  in spending cuts over the biennium and work to advance his vision for the upcoming session.

The Governor’s budget proposals include growth initiatives and protecting transportation funding. He also aims to boost tourism, end veterans homelessness by next year, and achieve other objectives.

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