State tax revenues $300 million short?

Local, Politics, Virginia 1 Minute

According to this article in today’s Virginian Pilot, state tax revenues are falling below expectations and may be as much as $300 million less than anticipated:

The $73.8 billion, two-year state budget was predicated on tax revenues growing 6.5 percent this fiscal year, which ends June 30. The collections have grown only 3.6 percent through April, according to a report released by Finance Secretary Jody Wagner.

Hmm. If realized, how does the shortfall affect the transportation package? What will be cut in order to deal with the shortfall?

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One thought on “State tax revenues $300 million short?”

  1. call me crazy, but does a 6.5 annual tax revenue increase sound a bit hopefull or what? definatley not a conservative estimate at all…

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