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.