Published: August 19, 2009
RICHMOND - Virginia now finds itself in a $1.5 billion hole, Gov. Timothy M. Kaine said Wednesday.
Kaine, a Democrat, told the General Assembly’s money committees that revenue for the current fiscal year looks to be down $1.2 billion, which comes on top of a $300 million shortfall from the past fiscal year.
This will mean cuts in state services, and possibly layoffs, that Kaine said he will detail early next month. Last month, he directed state agencies to prepare proposals on cutting their budgets by 5 percent, 10 percent and 15 percent so that decisions can be made quickly.
“We will make these decisions carefully,” Kaine said, “but they will be painful to those who rely on public services in this most challenging time.”
Virginia Education Association lobbyist Robley S. Jones said the organization that represents 60,000 public school teachers is resigned to cuts as long as they are restored when the recession ends.