WASHINGTON - The economic stimulus package that is being formed by President-elect Barack Obama's team and Congress should help to ease Virginia's growing budgetary challenges, which includes a $3 billion revenue shortfall for the $77 billion two-year budget, Gov. Timothy Kaine told the General Assembly late Wednesday in his state of the commonwealth address.
"We should see action on this welcome proposal soon after inauguration. Since the balanced budget I introduced in December did not factor in any federal stimulus, this package should help ease some of our budgetary challenges at the same time as it spurs the economy forward," Kaine said in his address. "My team and I are working closely with the incoming federal administration to help develop their economic stimulus package. I have spoken personally with President-elect Obama about the importance of investing in new infrastructure to put Americans to work."