Gov. Glenn Youngkin paused over $600 million in funding requests for 10 renovation and expansion projects at Virginia’s higher education institutions to prepare for possible statewide repercussions stemming from uncertainty about the country’s economic future.
As President Donald Trump’s administration continues slashing federal spending and programs and overhauling global trade policies, Youngkin and lawmakers are keeping a keen eye on the state’s purse strings.
On May 2, the governor announced that Virginia will retain $900.4 million from its budget, leaving a projected $3.2 billion surplus as a cushion. Of the $900 million removed from the state spending plan, $626 million would have been allocated to cover 10 one-time capital projects at Virginia’s colleges and universities.
Read more at Virginia Mercury.
