WAMU 88.5 : Morning Edition

Filed Under:

Virginia Budget Planners Stay Conservative In Light Of Fiscal Cliff

Play associated audio

Virginia officials are proceeding with caution as they prepare to adjust the state budget for the upcoming General Assembly session. The uncertainty about tax and spending issues in Washington is causing some pessimism about the state budget.

It's not been the best of times, but revenues have grown modestly. But state leaders are still bracing for the worst of times because Virginia would be hit hard by sequestration defense cuts if the country goes off the "fiscal cliff" in january.

While state leaders are hopeful that federal budget problems and the fiscal cliff will be resolved, if it doesn't, the resulting job losses would cause dips in income, corporate, and sales tax revenues, says Gov. Bob McDonnell. That's why he asked agencies to prepare 4 percent spending cuts.

"That doesn't mean I'm going to actually cut them 4 percent," he says.

McDonnell has told lawmakers that his budget adjustments, which are due next month, may not be the final word.

"By the time the General Assembly reconvenes in mid-January, the situation may be changed and we may have to make some more significant adjustments than we've made in the past simply because the federal landscape is changing so quickly," McDonnell says. "And most of the concerns that were expressed today by the legislators and the business community relate directly to what's going on in Washington, D.C., and how it affects Virginia."

NPR

A 24-Year-Old Designed A Self-Driving Minibus; Maker Built It In Weeks

What if cars weren't mass produced? Local Motors, a small-batch auto manufacturer, relies on an online design community and a "co-creation" business model to bring new vehicles to market, really fast.
WAMU 88.5

How History Influences Diets In D.C. And Around The World

Kojo and chef Pati Jinich look at how history -- and famous names like El Chico, Azteca and even Fritos -- shaped modern Mexican-American cooking in the Washington region and beyond.

WAMU 88.5

Implications Of The Supreme Court's Immigration Ruling

Many undocumented immigrants are living in fear after a Supreme Court ruling effectively barred deferred deportation for 4 million people. What the ruling means for families across the country and how immigration policy is playing out in 2016 election politics.

NPR

A 24-Year-Old Designed A Self-Driving Minibus; Maker Built It In Weeks

What if cars weren't mass produced? Local Motors, a small-batch auto manufacturer, relies on an online design community and a "co-creation" business model to bring new vehicles to market, really fast.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.