Budget

Economics & Economy
5:28 pm
Mon August 19, 2013

Some Dismiss Governor's Budget Boast

The governor’s speech was not well received in certain circles.  Some democrats and economists say McDonnell  should not claim credit for low unemployment or another budget surplus.

Under his leadership, the governor says Virginia has created more than 172,000 new jobs and the unemployment rate is just 5.5% -- the lowest in the Southeast.  UVA economist Terry Rephan says Virginia does better than other states when it comes to employment, regardless of who is governor.

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Budget Outlook
5:25 pm
Mon August 19, 2013

Commonwealth Ends Fiscal Year with Surplus

Governor McDonnell has announced a $585-million surplus for the state fiscal year that ended in June. 

The General Assembly’s money committees greeted him with warm applause before he outlined the condition of the Commonwealth’s budget outlook. 

The Governor shared the credit and thanked lawmakers of both parties for work that’s resulted in surpluses during a tough economy.

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Intense Lobbying Efforts
4:00 am
Thu May 23, 2013

Online Tax Tangles

Revenue that Virginia officials were anticipating from online sales tax legislation in Congress is now in doubt. 

Recently the U-S Senate overwhelmingly approved a measure to make it easier for states to collect sales taxes from online purchases. Since then lobbyists for big online retailers and small business owners alike have stormed House office buildings trying to sway your local representatives.

The reason for the intense lobbying effort is that billions of dollars are at stake. Virginia officials expect to reap more than $250-million from online sales tax revenue.

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Economics & Economy
6:14 am
Tue May 21, 2013

State Revenues Still a Concern for Lawmakers

State revenues improved a little last month following a dismal drop of 6.1%  in March.  The news reassured members of the House Appropriations Committee, who worry that federal sequestration cuts could have a negative impact on both Virginia’s economy and the state's coffers. 

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Blueprint for the Nation
11:28 am
Fri April 12, 2013

Budget Battles Continue

President Obama's new budget has of course sparked a battle on Capitol Hill.

We know Republicans aren’t happy with the president’s newly unveiled budget, but neither are some Virginia Democrats.

In his budget the President is embracing a new way to tie Social Security payments to the rate of inflation. It’s called the “Chained CPI” but let’s get past the Washington jargon. What it amounts to is less money in those Social Security checks for future generations of seniors.

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