Virginia House of Delegates Speaker Kirk Cox, Majority Leader Todd Gilbert, Caucus Chairman Tim Hugo, Majority Whip Nick Rush and House Appropriations Committee Chairman S. Chris Jones issued the following joint statement Wednesday on Governor Ralph Northam’s introduction of House Bills 5001 and 5002, the budget bills for the 2018 Special Session.
“The House of Delegates will convene at Noon on April 11th to organize with the Senate of Virginia as we start the special session and continue our work on a new two-year state budget. After a brief break, the General Assembly’s return to Richmond gives us a chance to begin a fresh discussion on the budget. The introduction of these bills, and the initial meeting on April 11th, are the start of a process that we are confident will lead to the adoption of a new budget long before July 1.
“The budget introduced today does not rely on a revenue reforecast and commits a major share of surplus revenues to a reserve fund that is critical to protecting our Triple-A bond rating. The House always takes a conservative and responsible approach to estimating revenue, and we are committed to utilizing the current revenue forecast as we craft the budget. It would be unwise to conduct a revenue reforecast considering current economic uncertainty, recent changes in federal tax law, and the need to complete a budget as soon as possible.
“We look forward to continuing our conversations with the Governor and the Senate as we return to the Capitol.”