RICHMOND, Va. -- Governor Terry McAuliffe (D - Virginia) and Republican leaders have reached a deal to address budget cuts ahead of the General Assembly's Special Session this coming week. The state has been struggling to find ways to fill an anticipated $2.4 billion budget shortfall.
While specific details will be made public Monday morning, CBS 6 political reporter Joe St. George has learned it will include asking state agencies to find 5 percent in cuts by Friday.
"We want to protect everybody's job - we have to make some very tough decisions," Gov. McAuliffe said last month.
VCU already announced it would make $21 million in reductions to meet the governor's request.
Virginia State Senator John Watkins (R - Chesterfield) told St. George earlier this week that he hoped K-12 spending would not be impacted.
"Most of the hiring of teachers have already been done - schools have started, programs are underway," Watkins said.
This is a developing story.