Budget shortfall still exceeds two billion dollars

Published: Sep. 15, 2020 at 8:03 PM EDT
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RICHMOND, Va. (WDBJ) - Virginia lawmakers who were hoping state revenues would rebound quickly received a reality check Tuesday.

Members of the Senate Finance Committee heard from Finance Secretary Aubrey Layne, who told them estimates of a budget shortfall exceeding $2 billion appear to be on target.

“I don’t think we’ll see much of this change until we see an actual vaccine,” Layne told members of the committee. “I believe we’ve been saying from the very beginning, that it’s not going to be a government-led recovery.”

Dealing with that budget shortfall will be the most important task that remains on the agenda, as lawmakers try to wrap up the special session of the General Assembly.

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