How Much Have We Lost?

Thursday, June 12, 2014

Finalizing a State Budget - Not Pretty

The new proposed amendments to the state budget are now up online.  You can see them here:


The biggest issue is that revenue collections came in well below what was expected largely due to lagging capital gains tax revenues.  The overall shortfall is expected to be about $1.6-$2.0 billion.

What follows below is my initial impressions of what has changed versus Governor McDonnell's introduced budget.  Don't kill me if there are a couple mistakes.
Here is the bad:
Here are a few things that are not bad:

On top of that, there are rumors circulating around about more conservative members taking issue with the timing of the voting and the language relating to the Medicaid.  We will see what happens.

2 comments:

  1. The "cuts" ... are they "cuts" from current spending, "cuts" from the submitted budget, or "cuts" from proposed increases?

    And I'm not sure I understand your last sentence. It doesn't seem to say anything; is it complete?

    ReplyDelete
  2. Cuts are from the Governor's proposed budget.

    Fixed the sentence. Thanks.

    Things are moving fast down here.

    ReplyDelete

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