Virginia could be facing much bigger budget shortfall than expected
RICHMOND — Gov. Terry McAuliffe (D) will announce a larger-than-expected shortfall in the Virginia state budget Friday, possibly in the range of $1.5 billion, according to several people familiar with the figures.
Two people with knowledge of the budget situation said the governor was expected to announce a projected shortfall of about $1.5 billion in its current two-year, $105 billion budget.
Both people spoke on the condition of anonymity because they were not authorized to disclose the projected shortfall. One of the two said the budget hole is expected to be “at least” that big.
The shortfall would be among the biggest in state history. The worst was in 2010, when the General Assembly had to confront a $4.5 billion hole.
Read more: https://www.washingtonpost.com/local/virginia-politics/virginia-could-be-facing-much-bigger-budget-shortfall-than-expected/2016/08/24/6d8c7c6e-6a37-11e6-8225-fbb8a6fc65bc_story.html
