Virginia has nearly $1 billion more to spend in the new two-year budget than expected, as state tax collections rose $350 million higher than the new revenue forecast that Gov. Abigail Spanberger delivered just six weeks ago.
The state ended the fiscal year with $936.3 million more in the bank on June 30 than predicted last fall and $2 billion more than a year ago, as income and sales tax collections continue to surge despite a declining labor force and persistent inflation.
Read the full story in the Richmond Times-Dispatch.
