03.01.2009 2009 Virginia General Assembly Post-Session Update
03. 2009Virginia’s ever-increasing budget deficit took center stage this General Assembly session as legislators wrangled to rebalance the state budget in the face of drastically reduced revenue expectations. In December, the Governor announced his revenue reforecast, estimating a budget shortfall of $2.9 billion. As the New Year came and the session began, that number continued to increase, bringing the total revenue shortfall to $3.7 billion. Virginia expects to receive federal stimulus dollars in the amount of $4.6 billion that will help alleviate that budgetary deficit.
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