Budget

Government & Politics
12:09 pm
Tue December 17, 2013

Two Year Budget Proposal

Governor McDonnell has rolled out his final two-year state budget, which includes additional funds for major core services and other priorities.

The $95.9 billion budget also injects new cash into the Rainy Day Fund and adds millions of dollars to public and higher education. 

The Governor says he used caution in forecasting revenues—due to the disproportionate impact on the state of potential changes in federal fiscal policies.

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SCHEV Recommendations
4:41 pm
Tue October 29, 2013

Virginia's Higher Education Budget

Virginia’s colleges and universities may not get all—if any—of the funds they are requesting for news construction projects. 

But the State Council for Higher Education is recommending that lawmakers make maintenance a major priority in the new biennial budget.   The Council is also recommending continued funding of "Top Jobs 21"—a major education initiative started by Governor McDonnell.

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Budget Negotiations under Deadline
4:00 am
Tue September 10, 2013

Congress Gets Busy

As Congress resumes this week after its month long break there are a lot of pressing issues facing lawmakers that have a big impact on the economy in Virginia.

A handful of Virginia lawmakers were some of the loudest voices calling for Congress to fore go its August break and get serious negotiations underway on budget issues.

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Economics & Economy
5:28 pm
Mon August 19, 2013

Some Dismiss Governor's Budget Boast

The governor’s speech was not well received in certain circles.  Some democrats and economists say McDonnell  should not claim credit for low unemployment or another budget surplus.

Under his leadership, the governor says Virginia has created more than 172,000 new jobs and the unemployment rate is just 5.5% -- the lowest in the Southeast.  UVA economist Terry Rephan says Virginia does better than other states when it comes to employment, regardless of who is governor.

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Budget Outlook
5:25 pm
Mon August 19, 2013

Commonwealth Ends Fiscal Year with Surplus

Governor McDonnell has announced a $585-million surplus for the state fiscal year that ended in June. 

The General Assembly’s money committees greeted him with warm applause before he outlined the condition of the Commonwealth’s budget outlook. 

The Governor shared the credit and thanked lawmakers of both parties for work that’s resulted in surpluses during a tough economy.

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