With just over a month left in Virginia's fiscal year in an uncertain economy, Gov. Abigail Spanberger wants a fresh look at how much money the state can expect to have in hand to pay for spending in a pending two-year budget on July 1.
Secretary of Finance Mark Sickles, a longtime budget negotiator for the House before joining the new administration, said in a statement on Monday, "While general fund revenues remain ahead of forecast fiscal year-to-date, changing economic conditions and increased uncertainty in the national outlooks warrant a fresh review of the Commonwealth's revenue assumptions."
"I expect we will need to be cautious in allocating this new revenue, given the national economic uncertainty, targeted reductions in the federal and private sectors, and a slowdown in payroll withholding," said Sen. Barbara Favola, D-Arlington.
Secretary of Finance Mark Sickles, a longtime budget negotiator for the House before joining the new administration, said in a statement on Monday, "While general fund revenues remain ahead of forecast fiscal year-to-date, changing economic conditions and increased uncertainty in the national outlooks warrant a fresh review of the Commonwealth's revenue assumptions."
"I expect we will need to be cautious in allocating this new revenue, given the national economic uncertainty, targeted reductions in the federal and private sectors, and a slowdown in payroll withholding," said Sen. Barbara Favola, D-Arlington.
