Senate, House pass their budgets

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The Virginia Senate and House of Delegates passed their budgets Thursday, setting up intense negotiations to reconcile a two-year budget shortfall of $4 billion.

Both versions of the budget include major cuts to public education and health care, particularly Medicaid reimbursements. They include deferring payments to the Virginia Retirement System.

The Senate bill makes $700 million in cuts but includes $540 million in new revenues. The House of Delegates’ bill would cut $1.5 billion in spending, but does not include new fees.

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