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Governor Northam presents budget amendments to restore progressive agenda, provide relief to Virginians and bolster economic recovery.
Governor Northam Proposes Voter Protection Measures Ahead of November General Election.
Additional budget amendments address evictions, broadband, historical sites, and dam safety.
Governor Northan announced that Virginia ended fiscal year 2020 with a deficit of approximately $236.5 million in general fund revenues, significantly below prior estimates of up to $1 billion.
Governor Ralph Northam today presented his budget for Fiscal Years 2020–2022 to the Joint Money Committees of the General Assembly.
Governor Ralph Northam addressed a meeting of the Joint Money Committees of the Virginia General Assembly where he discussed the state of the Commonwealth's finances and the Virginia economy.
For Immediate Release: June 8, 2018
Contacts: Office of the Governor: Ofirah Yheskel, Ofirah.Yheskel@governor.virginia.gov
Following budget adoption, agency moves outlook back to stable
RICHMOND—Governor Ralph Northam today issued the following statement regarding S&P Global Ratings’ move to affirm Virginia’s AAA bond rating and upgrade the Commonwealth’s financial outlook to stable. In April 2017, the ratings agency downgraded the Commonwealth’s outlook from stable to negative. The upgrade follows Governor Northam’s adoption of a historic budget that expands Medicaid and allocates more dollars for the state’s primary reserve funds.
“I’m encouraged that the actions we’ve taken to shore up our reserve funds and to finalize a fiscally sound budget have resulted in an upgraded outlook from S&P Global Ratings. This demonstrates the fiscal health of the Commonwealth and affirms the work we have done over the course of the session to ensure our critical AAA bond rating remains intact.
“This is a positive sign for Virginia’s economy and I look forward to continuing to work with the General Assembly to make the Commonwealth work better for every family.”