Virginia is facing a fiscal reckoning, as the spending needs of state government — especially for public education and Medicaid health care — begin to exceed the revenues available to pay for them in the next two-year budget, according to a sobering outlook presented to the House Appropriations Committee at its annual budget retreat Tuesday in Richmond.
The state must find an additional $1.3 billion to pay the updated costs of public education in grades K-12 alone in the two-year budget that will take effect on July 1.
Read the full story in the Richmond Times-Dispatch.
