BRADENTON, Fla. — Virginia Gov. Bob McDonnell Wednesday laid out his legislative agenda to a joint session of the General Assembly, saying he would focus more spending on education, transportation and underfunded pensions.

McDonnell also said he would push for placing more than $600 million in reserves by the end of fiscal 2014 and allocating $50 million to create a new Federal Action Contingency Trust Fund to help weather impacts from potential federal spending cuts.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.