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Politics

Assembly 2014: Virginia House and Senate Introduce Conflicting Budgets

The House of Delegates and state Senate have introduced their amended versions of former Governor McDonnell’s outgoing budget. The most notable difference in the competing drafts of the $96 billion, two-year spending plan, is the Senate’s inclusion of a private insurance-based alternative to expanding Medicaid, available to everyone earning below 400 percent of the poverty level. This significant expansion to Virginia’s health care safety net is the brainchild of Republican Senator John Watkins of Powhatan.  He calls it Marketplace Virginia.

 

Virginia Reports $140 Million Revenue Reduction

Governor Terry McAuliffe has announced a state revenue reduction of $140 million due to weaker than expected January and fiscal year-to-date tax collections. The Governor and Finance Secretary Ric Brown have taken action to address the shortfall.  The state will miss a $60 million scheduled deposit to the Rainy Day Fund in 2016. Another $40 million will be offset by the upcoming budget’s unappropriated balance, $15 million will be used from the State Lottery, and the balance will be covered by surplus revenues from the Department of Education.

 

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