FREE RIDE

By the Numbers: Va.'s New Budget Shortfall

LAWMAKERS IN RICHMOND will likely get some bitter budgetary news this morning: Gov. Tim Kaine is expected to announce that the commonwealth is facing a big shortfall for the 2008-2010 biennium, the Times-Dispatch reports.

Let's examine Virginia's fiscal crunch by the numbers ...

» $400 million: The budget gap Virginia is facing this fiscal year.
» $240 million: The amount of expected tax revenue the commonwealth didn't end up taking in — a sign of an economic downturn.
» $1.2 billion: The budget gap that is coming in the next two years, according to the Commonwealth Institute for Fiscal Analysis, a think tank.
» $1 billion: The size of the commonwealth's "rainy day" fund, a pool of money lawmakers "are loath to tap" because Virginia isn't experiencing a recession, the Times-Dispatch writes.

» "Kaine: Virginia Budget Gap Will Reach $400 Million" [Times-Dispatch]

ALSO IN FREE RIDE
COMMENTS (0)
  • Be the first to comment here now!
POST A COMMENT
All comments on Express' blogs will be screened for appropriateness, spam and topic relevance, so there is likely to be a delay before your comment is displayed. Thanks for your patience.
Remember personal info?
(you may use HTML tags for style)