Spending cuts on the way for the Commonwealth

Posted at 2:07 PM, Sep 15, 2014
and last updated 2014-09-15 14:14:32-04

Virginia Governor Terry McAuliffe and state lawmakers have hammered out a plan that they hope will balance the state budget.

$2.4 billion dollars. That's how much republicans and democrats had to cut from the state budget.

The governor announced details on Monday. He started by saying this deal does not raise any taxes or fees. But there are major cuts to public universities and local governments.

Republicans say the deal eliminates about half of the spending cuts originally introduced.

Still, state agencies like VDOT and public colleges like Old Dominion University will have to find a way to overcome these spending challenges.

They must submit a plan to reduce spending by five percent this year.

The proposed budget also eliminated $45 million to higher education and $30 million to local governments. But the governor told state workers he's trying to protect as many jobs as possible.

The democrat did say that his office was able to work with republicans to protect his priorities with no cuts to funding kindergarten through grade 12 education or health care.