The government is now funded through September, but another deadline is hanging over Congress that imperils the economy of Virginia.
The last time Congress wrangled over the debt ceiling the federal government lost its triple A credit rating. Credit rating agencies say Virginia could also lose its pristine credit rating if the federal government gets locked in partisan warfare once again.
That could make borrowing more expensive for cash strapped locales, according to Virginia Democrat Gerry Connolly.
Over the last few weeks, Governor McDonnell has been scrutinizing 812 bills sent to him by the General Assembly. Among them is a package of legislation to penalize “possession with the intent to distribute” a legal product. Its goal is to stop the traffickers of contraband cigarettes, who’ve made millions of dollars while the Commonwealth loses revenue.