FOR IMMEDIATE RELEASE
WOODBRIDGE, VA – House Appropriations Chair Luke Torian is responding today to Governor Northam’s release of the Fiscal Year 2020 year-end Virginia revenue report. The Governor announced a year-end revenue shortfall smaller than had been projected due to the COVID-19 pandemic’s ongoing economic impact.
Chair Torian issued the following statement: “The year-end revenue report is encouraging relative to prior, more cautious forecasts. The pandemic’s impact on state revenues could have been worse, and we had planned for the worst. So, I am pleased to see these numbers, all things considered.
This does not mean we’re looking ahead to the same comfortable biennium that we were last January. Better-than-expected, in this case, is still a long way from 2019 forecasts. Virginia households are still hurting. Though we are cushioned by historically high reserves, much of the impact of COVID-19 on Fiscal Years 2021 and 2022 has yet to be seen.
We will continue to monitor the pandemic and its impact on our families, communities, and economy. Next month’s reforecast should shine more light on our options for Special Session.”
Delegate Luke Torian represents House District 52 in the Virginia House of Delegates, serving Dale City, Woodbridge, and the towns of Dumfries and Occoquan. He has held office since 2009 and serves as Chair of the House Appropriations Committee. He is also a member of the House Rules and General Laws committees.