From Abingdon to Arlington, the Commonwealth’s news outlets are reporting the potential effects of Governor Kaine’s proposed 2009-2010 budget cuts, which were announced yesterday.

Of particular interest to real estate professionals, Kaine is recommending that the Department of Housing and Community Development’s budget be cut from $44.5 million to $40.7 million, and that the Department of Transportation’s budget be cut from $4 billion to $3.7 billion.

Review the Governor’s full proposal.