Debt and Budget

Governor's School Takeover Amendments Rejected

Apr 3, 2013

The House has shot down one of Governor McDonnell's budget amendments during the General Assembly’s Reconvened Session. 

Battle Over The Debt Ceiling

Mar 28, 2013

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.  

Governor McDonnell has proposed amendments to the transportation-funding package that was hammered out by conferees and passed by the General Assembly last month. 

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.

Virginia Lawmakers Weigh in on Budget Woes

Mar 1, 2013

Officials in Virginia are bracing for the impact of the federal budget cuts that start trickling down. Lawmakers in the commonwealth disagree about what should be done with the sequestration.

So now they’re dealing with the fallout: cuts to education, housing, healthcare, conservation programs – the list is seemingly endless. Virginia Democratic Senator Tim Kaine says many federal workers and contractors in the commonwealth will feel those cuts directly.