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“ONE of the options that might be considered” to meet the $117.2 million revenue deficit expected in the state of Virginia for the 1976-78 biennium was proposed by Governor Mills Godwin on Monday, December 6. Godwin stressed that he intends to defer action until after the General Assembly meets in January, in order to give its members an opportunity to find other means to close the $117.2 million gap. The Governor suggests that the state legislators’ choices include providing new revenue sources; a combination of tax increases and spending cuts; or to close the entire gap by reducing expenditures.
Godwin’s proposal is “to distribute the burden equitably as possible between our state agencies and institutions on the one hand and our localities who benefit from the state General Fund on the other.”
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