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Article: Kaine Orders Agency Spending Cuts, Has Eye on Rainy-Day Fund
- Article from:
- The Washington Post
- Article date:
- August 21, 2007
- Author:
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Virginia Gov. Timothy M. Kaine has ordered state agencies to cut
spending by 5 percent and will consider asking the General Assembly
to tap the "rainy day" fund because of a $641 million budget
shortfall.
In a speech to state legislators Monday, Kaine (D) said the state
must slow its rate of spending because the housing market is
weakening and some past budget decisions were made on assumptions
that have not panned out.
"We must look closely at what our state government does to
identify opportunities for efficiency and savings," Kaine said. "As
we move forward, I ask that we again work together to make hard
choices necessary to preserve our quality of life."
State revenue grew by 4.9 percent ...