Saturday, November 28, 2020
River Farm Update #4 - Grassroots Group Forms, Gov Northam Weighs In & AG's Investigating
Monday, November 2, 2020
Weekly Column: Legislators Revised the Budget to Address Many Needs
Legislators Revised the Budget to Address Many Needs
The General Assembly met over the last few months in a special session to finalize our state budget. We had to revisit the budget because in the last week of our regular, winter session, the COVID-19 pandemic started to flare up, the shutdown began shortly after and the economic damage and uncertainty made it impossible to build a two-year budget. Governor Ralph Northam proposed amendments that the General Assembly approved in April putting all new spending on hold until we had reliable revenue estimates. Two weeks ago, we approved a revised budget that takes a more modest approach than our original budget, but it still has some significant investments.
First, we balanced our budget as required by the state constitution. Second, the budget leaves over $1 billion unspent in reserves because of continued economic uncertainty. It is a very fiscally prudent budget.