We are now in the throes of the 2022 Regular Session. House committees and subcommittees are starting early in the morning and going late at night. In the Senate, which has fewer members and therefore fewer committees and bills, we are working long hours but fewer than the House. Over 2000 bills are still awaiting final action, including the budget.
The Constitution of Virginia requires our budget to be balanced. This requirement does not prevent us from borrowing money for certain needs, such as capital projects. The law also requires us to set aside money in reserves and the rainy day fund. Due to the growing economy and largess of the federal government last year, we have a record surplus that allows us to address some significant needs. [Read more…]