Revenue Shortfall Threatens Higher Education, Parks Funding

WAYNESBORO — Sen. Emmett Hanger said Tuesday that he hopes the Virginia budget will be finalized by the end of this week.

Hanger, R-Mount Solon, said one of the sticking points is how to deal with an estimated $1.35 billion shortfall in revenues over the next two years. He said that while the state’s rainy day fund can cover part of the shortfall, the remaining half will have to come from spending reductions.

 

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