Lynchburg, VA – Local lawmakers weigh in after learning Virginia’s budget shortfall is $89 million more than anticipated.
Governor Terry McAuliffe’s administration announced the shortfall Thursday. Virginia ended fiscal year 2014 with a nearly $439 million shortfall. The budget signed last month only anticipated a shortfall of $350 million. A decline in tax revenues caused the additional shortfall.
"We had already projected and put into the budget some extra resources, unappropriated balance resources. To be able to take care of any revenue shortfall we may have,” said Del. Scott Garrett. “But even we did not foresee as severe of a shortfall as we're now facing."
"There were a number of options on how we cut the budget before we passed the final budget this last June. Those options that were available then are still available,” said Sen. Steve Newman. "In the past we have seen times, during the Warner administration and a few other administrations where we've actually had to go in mid-cycle and tell school divisions and law enforcement that there have got to be adjustments. We very much hope we can avoid that."
The General Assembly will reconvene in September to take up Medicaid expansion. If mid-cycle adjustments need to be made to the budget they will likely come in February.