Today, the House of Delegates adopted the conference committee report making changes to the two-year state budget. This budget makes key investments in Virginia's savings accounts and K-12 education, two of our top priorities. It also guarantees that Medicaid reforms will be fully implemented in Virginia. Once again, Virginia shows that smart, common-sense governing based on results is the right way to lead.

The final budget sets aside a total of $ 125 million for the state's various savings accounts, including $95 million for the rainy day fund and $30 million for a contingency fund to be used in the event of federal cuts that may harm Virginia's economy.  

The House today has taken important steps to invest in the future of the Commonwealth. The money set aside today represents almost one-third of our required deposit in the rainy day fund for the next budget biennium. This is an investment in Virginia's future.

The conference report also makes a sizable investment in K-12 education, including funding for teacher pay raises, the implementation of a strategic compensation model in local school divisions and the establishment of the Opportunity Educational Institution.  

The budget today will recognize and reward Virginia's great teachers, allow local school leaders to implement innovative compensation models and provides a mean for ensuring that all children have the opportunity to succeed in strong schools. This is a conservative and responsible budget that makes key investments in our top priorities - our children and our future.