Just as COVID-19 was starting its destruction of the world’s economy in early March, the Virginia General Assembly took final action on an exuberant two-year state budget within shouting distance of $140 billion. Six weeks later at Reconvened Session, with the economic damage obvious but not yet measured, the Assembly reaffirmed the same spending plan. Rather than substantially cut the budget, Governor Ralph Northam and his finance team proposed to delay the vast majority of the newly authorized spending and decide later whether the state can afford it. It was a punt on first down.
