On a vote of 61-30, the US Senate approved $25 billion in state fiscal relief. This includes $15 billion in Medicaid support and $10 billion in education support. For West Virginia, this amounts to $136 million, with an estimated $81 million in Medicaid funds and $55 million in education funds. Both Goodwin and Rockefeller voted in favor of the bill.
This is great news for the state, if the House approves the measure on Tuesday. The State Budget Office estimates a FY2012 budget deficit of $150 million and these funds, along with the *$45 million in surplus revenues from FY2011, are more than enough to plug the budget hole.
*Of the $90 million in surplus revenues, half is transferred to the Rainy Day Fund.
