Va. gov says agreement on budget cuts reached

RICHMOND, Va. (AP) — Virginia Gov. Terry McAuliffe says an agreement has been reached on budget cuts for the next two years.

McAuliffe and leaders of the General Assembly plan to release details at a news conference on Monday.

McAuliffe has said officials are projecting a revenue shortfall of nearly $2.4 billion over a three-year period.

McAuliffe appeared Saturday at the annual meeting of the Virginia Governmental Employees Association. He tells the Richmond Times-Dispatch (http://bit.ly/1wkPthU) that the agreement will protect priorities such as funding for education and health-care initiatives.

The newspaper says the agreement will identify areas that would close a $346 million revenue gap in the fiscal year that began July 1. It also would partially address a $536 million shortfall in the second year of the two-year budget.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up