Virginia May Have More Money In Budget Than Northam First Reported

It appears the Virginia General Assembly may have more money in its two year budget than first thought. Governor Ralph Northam is reporting, thanks to a nine percent jump in the Commonwealth’s state tax and fee collections, Virginia’s revenue for the year ending June 30 will be about 292 million dollars more than Northam first presented. According to a report in the Virginian-Pilot Newspaper, that’s about a one point four percent increase…meaning about 112 million dollars of that is expected to go to the state’s rainy day fund according to state law.