VA Gov. Proposes Reducing Budget $140 Million - 47 ABC - Delmarva's Choice

VA Gov. Proposes Reducing Budget $140 Million

Posted: Updated:

RICHMOND, Va. - A new budget forecast showing the state pulling in less tax revenues than previously expected is prompting Gov. Terry McAuliffe to propose trimming the state's budget by $140 million.
    
McAuliffe's office announced the new budget numbers Wednesday at the Capitol after briefing lawmakers.
    
Net individual income tax revenue was $120 million lower in January 2014 than it was for the same month in 2013, an 8 percent decrease.
    
The governor said the state's economy is still growing, but that growth is slow.
    
McAuliffe is proposing higher-than-projected revenues from the state lottery and other sources to help cover the reduction in revenues.
    
Both the House and the Senate are set to unveil their budget plans on Sunday.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The 47 ABC "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
  • Free Tuition Contest

    Free Tuition Contest

  • Local NewsDelmarva HeadlinesMore>>

  • Flowers Announces He Won't Run For Re-Election

    Flowers Announces He Won't Run For Re-Election

    Saturday, August 30 2014 12:50 AM EDT2014-08-30 04:50:47 GMT
    DOVER, Del. (AP) - Delaware's race for state treasurer is becoming more focused on experience and qualifications now that Chip Flowers has said he will not run for re-election, leaving no one with theMore >>
    DOVER, Del. (AP) - Delaware's race for state treasurer is becoming more focused on experience and qualifications now that Chip Flowers has said he will not run for re-election, leaving no one with theMore >>
  • Death Sentence Overturned

    Death Sentence Overturned

    Saturday, August 30 2014 12:42 AM EDT2014-08-30 04:42:46 GMT
    DOVER, Del. (AP) - Attorneys for a Delaware man whose conviction and death sentence for a 1991 slaying were overturned say a confession he gave should not be allowed in any retrial. Jermaine Wright'sMore >>
    DOVER, Del. (AP) - Attorneys for a Delaware man whose conviction and death sentence for a 1991 slaying were overturned say a confession he gave should not be allowed in any retrial. Jermaine Wright'sMore >>
  • Panel Advises Closing Of Charter School

    Panel Advises Closing Of Charter School

    Saturday, August 30 2014 12:35 AM EDT2014-08-30 04:35:26 GMT
    DOVER, Del. (AP) - A state panel is recommending that a struggling charter school serving mostly low-income black children in Wilmington be closed at the end of this school year because of academic problemsMore >>
    DOVER, Del. (AP) - A state panel is recommending that a struggling charter school serving mostly low-income black children in Wilmington be closed at the end of this school year because of academic problemsMore >>
  • Most Popular StoriesMost Popular StoriesMore>>

  • Homeless Sex Offenders

    Homeless Sex Offenders

    DELAWARE - Individuals featured in this slideshow are NOT wanted. They are sex offenders who have registered with Delaware State Police as homeless. These are public notifications.More >>
    DELAWARE - Individuals featured in this slideshow are NOT wanted. They are sex offenders who have registered with Delaware State Police as homeless. These are public notifications.More >>
  • Family of Deceased Magnolia Man Speaks Out

    Family of Deceased Magnolia Man Speaks Out

    Friday, August 29 2014 11:18 PM EDT2014-08-30 03:18:27 GMT
    MAGNOLIA, De. - It's been a somber week for one Magnolia family, as unidentified human remains found across state lines turned out to be that of their missing loved one.More >>
    MAGNOLIA, De. - It's been a somber week for one Magnolia family, as unidentified human remains found across state lines turned out to be that of their missing loved one.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.