State Government
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By Administrator
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Friday, 29 May 2020 10:53 |
Analysts for both the General Assembly's nonpartisan Fiscal Research Division and the Office of State Budget and Management predicted a total net drop in expected collections of $5 billion for the current budget biennium.
The figure includes an expected $4.2 billion drop, or 8.2%, in General Fund revenues plus an expected $774 million drop, or 9.7%, in the Highway Fund and Highway Trust Fund.
Senate Leader Phil Berger (R-Rockingham) and Speaker Tim Moore (R-Cleveland) released a joint statement:
"We continue to work collaboratively with the Governor on fiscal responses to this crisis, just as we did earlier this month with a consensus $1.6 billion COVID relief appropriation. We look forward to receiving the Governor’s budget recommendations as soon as possible to move forward with a plan of action."
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Last Updated on Friday, 29 May 2020 10:55 |