Virginia Governor Preparing Public For Poor Revenue Report In April
The State of Virginia has released its final Pre-Covid-19 revenue report. And while March revenues increased by more than ten percent, Governor Ralph Northam is preparing Virginian’s that April’s figures will be disappointing. Northam says while March collections reflected a strong economy before the pandemic hit, April revenues will begin to reveal the effects of COVID-19 on the Virginia economy. Finance officials say retail sales taxes are expected to decline by approximately one billion dollars in the final quarter of the fiscal year.