Virginia posts surplus, but federal deficit threatens bond rating

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Among other states with surpluses this year are Arkansas, South Carolina, Ohio and Idaho, which ended with an $85 million surplus. Idaho Gov. C.L. “Butch” Otter, a Republican, said the majority of the money will be funneled to public schools and colleges.

Officials said the biggest drivers of those surpluses also were higher-than-expected tax collections. Thirteen states have so far reported revenue higher than anticipated, according to the National Association of State Legislatures.

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