McDonnell outlines deep budget cuts

He has been talking about it privately since he took office, but today Governor Bob McDonnell officially outlined his plan to balance the Commonwealth’s budget.

McDonnell’s plan closes a $2.2 billion budget hole without raising any taxes. The new Governor revealed that his predecessor, Tim Kaine told him he could not cut any further. McDonnell said that while he respects the Democrat’s view, tax increases would create more pain that budget cuts, even the level of cuts that he is proposing.

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To read Governor McDonnell’s  budget documents in their entirety, click on the links below:

Governor McDonnell’s letter to the Money Committee Chairs on cost savings

Outline of Governor McDonnell’s funding cut proposals

Mid-Session General Fund Revenue Reforecast Executive Summary