McAuliffe says outlook for revenue is not optimistic
Even Gov. Terry McAuliffe couldn’t be too cheery after meeting with Virginia business and legislative leaders on Monday about the state’s economic and revenue outlook.
McAuliffe emerged from the two-hour meeting with the Governor’s Advisory Council on Revenue Estimates with renewed warnings about potential cuts in federal spending under budget sequestration next year and the dire need to prepare for a major turnover of working Virginians in the next decade.
“I don’t think anybody would say optimistic,” he said of the outlook.
However, McAuliffe remained determined to protect new state investments in education, as he prepares to submit revised revenue forecasts to support budgeted spending to the General Assembly’s money committees on Aug. 26.
Read more: http://www.fredericksburg.com/news/va_md_dc/mcauliffe-says-outlook-for-revenue-is-not-optimistic/article_1f67686e-9e42-5512-9c15-15fa26da8d76.html