x

Norfolk's Leading Local News: Weather, Traffic, Sports and more | Norfolk, Virginia | 13NEWSNOW.com

Governor: strong economy means more money for state budget

Gov. Northam said in a letter to lawmakers that new revenue estimates for fiscal year 2020 show an expected increase of almost $300 million over previous estimates

RICHMOND, Va. — Virginia Gov. Ralph Northam is telling lawmakers that a stronger than expected economy means they will have an extra $180 million to spend when crafting a state budget. 

Northam said in a letter to lawmakers Friday that new revenue estimates for fiscal year 2020 show an expected increase of almost $300 million over previous estimates. 

By law, about $112 million of that extra money is designated for the state's reserves. 

Lawmakers in both the House and Senate are set to unveil their proposed $135 billion two-year state budgets on Sunday.

RELATED: Governor Northam announces budget, legislative priorities for historic justice, equity agenda

RELATED: After federal rollback, Virginia offers new protections for HRBT seabirds