State Fiscal Updates: Virginia and West Virginia Report Budget Surpluses; New Jersey Delivers Budget Address

In mid-2026, several U.S. states addressed budget and fiscal matters. Virginia Governor Abigail Spanberger's office announced on July 14, 2026, a fiscal year surplus of $936.3 million, attributing it to general fund revenue growth of $2.09 billion, or 6.7 percent year-over-year, driven by individual income tax and sales tax receipts. Separately, West Virginia Governor Patrick Morrisey's office reported on July 1, 2026, that the state concluded fiscal year 2026 with a $370 million revenue surplus. In West Virginia, the Charleston Gazette-Mail reported on May 23, 2026, that the state Legislature passed a workforce training bill during its 2026 session, allowing the state to reimburse businesses up to $100,000 for skills training; the bill was sent to the governor's desk. This measure was part of a broader legislative session that the outlet characterized as addressing some of the state's challenges while leaving others unresolved, though specific additional legislative outcomes were not detailed in available reporting. In New Jersey, Governor Mikie Sherrill delivered her Fiscal Year 2027 budget address, titled "Rising to the Mission: A More Affordable & Accountable New Jersey," to the state Legislature on March 10, 2026, before Senate President Nicholas Scutari, Speaker Craig Coughlin, and members of the 222nd Legislature, with former governors Chris Christie, James McGreevey, and Donald DiFrancesco in attendance. These four items represent separate state-level fiscal developments in Virginia, West Virginia, and New Jersey rather than a single unified event. The specific policy details of New Jersey's proposed FY2027 budget, including spending levels or revenue projections, were not specified in available reporting. Similarly, the full scope of West Virginia's 2026 legislative session outcomes beyond the workforce training bill remains unconfirmed. No source disputes the reported surplus figures for Virginia or West Virginia, though the underlying drivers beyond tax receipts were not independently detailed.