Virginia collected slightly more tax revenue in the past 11 months than it did in either of the previous two years, despite a public health emergency that has devastated parts of the state economy that can’t fully reopen because of the COVID-19 pandemic.
Good news about the state budget emerged last week. “Revenues are exceeding official forecasts,” Gov. Ralph Northam announced. “Even during a …
Gov. Ralph Northam on Wednesday warned Virginians of capacity and staffing strains among some of the state’s hospitals due to the latest surge of COVID-19, and suggested that if trends continue, more public restrictions could be on their way.
Jeff Southard could see Virginia turning the corner on long-term funding of transportation as he prepared to retire this year after 15 years at the helm of an alliance of companies that build highways and bridges, and produce the asphalt and concrete for the work.
Gov. Ralph Northam is urgently reviewing a request of $200 million in federal funds to help Virginia public school divisions operate in a school year like no other, after the coronavirus pandemic forced most public schools in Virginia to rely on remote learning.
Gov. Ralph Northam has mixed news about state revenues as the General Assembly prepares to consider proposed changes to the state budget - tax revenues are steady, but don't count on a speedy economic recovery from the COVID-19 inspired recession.
Gov. Ralph Northam promised the General Assembly on Tuesday that he remains committed to "the progressive budget" it passed this year, but said the coronavirus pandemic paralyzed the state's economy and drained tax revenues needed to pay for the priorities of the Democratic-controlled legislature.
The $1 billion budget loss that Virginia officials feared turned into a manageable $236.5 million shortfall at the end of the fiscal year last week, boosting the state's balance sheet as Gov. Ralph Northam and the General Assembly prepare to revise the two-year budget that has been upended by the coronavirus pandemic.
Virginia could lose less than half of the $1 billion in revenues it had expected to in the fiscal year that ended Tuesday, setting the stage for a potential restoration of spending that had been frozen in the new two-year budget that took effect Wednesday.
The economic damage the coronavirus shutdown has done to the state budget could be significantly less than the $1 billion revenue loss previously estimated for the fiscal year that ends June 30. However, Virginia’s top finance official warned that local governments dependent on sales and meals tax revenues could face a bigger fiscal challenge.
Northam: COVID-19 cases continue to trend downward in Virginia
Virginia is committing $58 million in federal emergency aid to expand contact tracing of people who test positive for COVID-19 to contain the spread of the coronavirus.
State tax revenue from motor vehicle sales fell by almost $37 million in April, compared with the same month a year ago, a 41% drop that could signal a slowdown in Virginia's ambitious plans to improve its transportation system.
Virginia tax revenue fell by $700 million in April, compared with April 2019, a 26.2% drop that is a foretaste of financial losses expected to approach $1 billion by June 30 as the state feels the economic shock from the COVID-19 pandemic that has brought business to a near standstill in the past two months.
As Congress considers a new relief package for state and local governments, Virginia counties wonder what happened to the federal aid that the state already has received to help them fight the coronavirus pandemic and survive an economic meltdown.
Gov. Ralph Northam is dropping his bid to expand the governor's power to cut state spending by more than 15% without the General Assembly's approval.
Virginia Democrats in the General Assembly cheerily observed last month that they were sending a budget to the governor that would finally res…
Gov. Ralph Northam will suspend all new spending in the pending two-year, $135 billion state budget and divert planned deposits in the state's reserves to pay for essential services in the public health and economic crises caused by the coronavirus pandemic.
Gov. Ralph Northam is imposing a hiring freeze on state agencies, but cautioning against layoffs as the state prepares for a recession triggered by the coronavirus pandemic.
Virginia's local governments say they face economic calamity unless the state delays new legislation - including an increase in the minimum wage, permission to allow collective bargaining for local government employees and expanded eligibility for workers' compensation - that the General Assembly enacted this year before the coronavirus pandemic shut down many businesses and put thousands of Virginians out of work.
Virginia’s top finance official says the state is likely to lose $1 billion in revenue in each year of the pending two-year budget — and that’s the best scenario, assuming significant aid from the federal government for workers and business owners who have lost their livelihoods because of the coronavirus pandemic.
Gov. Ralph Northam is proposing a two-year state budget with big tax increases on tobacco products and motor vehicle fuels, but he wants to use the money to lower health insurance premiums, end annual vehicle inspections and cut vehicle registration fees in half.
Virginia met its deadline for mailing one-time tax refunds. Now, it’s up to the U.S. Postal Service to deliver the checks.
It’s not a normal tax refund, but almost 350,000 Virginia taxpayers are running out of time to receive a one-time payment this fall as part of the state’s response to federal tax reform.