Virginia Legislators Seeking Compromise on Biennial Budget

Ackerman, Andrew
May 2006
Bond Buyer;5/26/2006, Vol. 356 Issue 32390, p4
Trade Publication
The article reports that lawmakers in the Virginia House and Senate are seeking a compromise on biennial budget for fiscal years 2007 and 2008. The House and Senate budgets both call for about $72 billion in spending, but contain significantly different bond proposals. Senate Republicans and Democrat Governor Tim Kaine wanted to pay for transportation infrastructure through raise in taxes, but House Republicans stated they would not vote for a tax increase again. In total, legislators have approved almost $1.2 billion in bonds, though that figure includes separate legislation law-makers have already authorized apart from the budget, such as $395.4 million in double-barreled bonds for higher education projects.


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