Governor McAuliffe and General Assembly leaders have struck a deal to cut the state budget to cover an unexpected 2.4-billion-dollar-revenue shortfall. The agreement taps the state’s Rainy Day Fund, while closing a 346-million-dollar gap this fiscal year, and 536-million-dollars the next. And as Virginia Public Radio’s Anne Marie Morgan reports, the Governor stressed the bipartisan nature of the accord—flanked by GOP state lawmakers and the Democratic co-chair of the Senate Finance Committee.
The General Assembly had planned to hold a special session to debate Medicaid expansion on Thursday. However, Speaker Howell said lawmakers will also take action on new legislation to reconcile and finalize the biennial budget.