Budget Negotiators Meeting - white smoke expected; Revenues up with job losses and expected "small recession"?
Adele, the Doors, and Daft Punk (One more time!)
According to sources close the negotiations, Senate Finance and Appropriations Chair Louise Lucas and House Appropriations Chair Luke Torian are meeting today in order to begin the final phase of the Biennial Budget.
First things first
They have to agree how much money the Commonwealth will take in and then decide on how to allocate it over the next two years beginning July 1st.
Governor Abigail Spanberger announced that the updated forecast that she called for will yield an additional $922mm for the biennium. RTD Article here
Over at Cardinal News comes this headline: Virginia is on track to post two straight years of job losses. It’s not just federal job cutbacks that are pulling the state’s economy down. Even if there had been no federal job cuts, the state would have still lost jobs, according to federal economic data. Here’s why.
And there was this article (good reporting by Dave Ress btw) Virginia headed for small recession, Weldon Cooper forecast says
In speaking with people familiar with the protracted budget negotiations, the two chambers have never been THAT far apart but the new revenue forecast presents problems for decision making.
Yes, it’s always better to bring in more money but…
Will it be there? #JobLossesAndSmallRecession
Is it one time money?
Will it raise the base budget?
Regardless, the House will reconvene on the 18th and the Senate on the 22nd to finish their tasks.
The Biennial Budget will then go to Governor Spanberger for her consideration.
Given the short amount of time remaining for passage before a shutdown (no that was never going to happen) and given the even shorter tempers around Capitol Square, the final product should be - to say the least - interesting.
Songs with Ends:
This is the end
Hold your breath and count to ten
Feel the Earth move and then
Hear my heart burst again
For this is the end
I’ve drowned and dreamt this moment
So overdue, I owe them
Swept away, I’m stolen
Let the sky fall
When it crumbles
We will stand tall
Face it all together
Let the sky fall
When it crumbles
We will stand tall
Face it all together
At Skyfall
At Skyfall
This is the end
Beautiful friend
This is the end
My only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end
I'll never look into your eyes again
Can you picture what will be?
So limitless and free
Desperately in need
Of some stranger's hand
In a desperate land
BUT WAIT!
ONE MORE TIME! Every year since 1619 - LET’S GOOOO!!!