Legislators adopt two-year state budget

June 17, 2014

Capitol

By Dean Lynch

The General Assembly adopted a two-year state budget Thursday night ending a stalemate that has lasted three months. The new spending plan includes a provision that prevents the governor from expanding Medicaid or a private insurance marketplace without the approval of the General Assembly.

The Senate passed the budget on a 21-18 vote. Then just before midnight, the House voted 69-31 to adopt the budget that also addresses a $1.55 billion revenue shortfall.

“Our message has always been for legislators to pass a timely budget so counties can continue delivering services citizens expect,” VACo Executive Director Jim Campbell said.

The new budget includes $842.5 million in spending cuts, which combined with $707.5 million from the Revenue Stabilization or Rainy Day Fund, would meet the projected $1.55 billion revenue shortfall through the biennium.

The budget now moves to Governor Terry McAuliffe’s desk for his consideration.

VACo continues to monitor the process and will communicate a detailed analysis and update to its members.

- Related Blog Posts -

CNBC rankings – Top States for Business of 2013

July 9, 2013

View Blog Post

Summary of upcoming changes in pension accounting standards

June 17, 2015

View Blog Post

VACo’s 1207 to the 95 Blog – The Opioid Crisis Part 4: Addiction’s Impact on Community Resources

July 18, 2018

View Blog Post