Posted on 08/18/2011 1:18:00 PM PDT by freespirited
Gov. Bob McDonnell (R) announced Thursday that Virginia has finished its fiscal year with a surplus of $544.8 million through higher-than-expected tax revenue and savings.
Last month, McDonnell announced that the state had a surplus of $311 million on June 30, the close of the year, but Thursday told legislators his administration has been able to save an additional $234.1 million.
Virginia law calls for the bulk of the money to be put into the state’s rainy day fund and spent on K-12 education, transportation and Chesapeake Bay cleanup.
McDonnell has proposed giving some of the unspent balance to sheriff’s offices across the state and to localities hit by recent tornadoes in southwest Virginia, as well as shoring up the pension system.
McDonnell gave his annual speech on the state’s finances to the General Assembly’s money committees Thursday morning on Capitol Square.
You can listen to McDonnell’s speech to lawmakers here.
(Excerpt) Read more at washingtonpost.com ...
Ooops....better keep quiet. The US will a enact STBV (States that begin with ‘V’) tax as a way to get the money.
Obama and the Dems are like drug sniffing dogs when it comes to $$$$.
just saw him on cavuto.
SHHHHHHHHHHHHHHHHHHHH! Don’t tell the MSM.
ANOTHER CONSERATIVE GOVENER SUCCESS STORY!
Sucks to be in a ‘Blue’ state (no pun intended).
is it McDonnell has no aspirations to be President?? or am i way off thinking this guy would be a great GOP candidate to destroy ayatollah obama??
Don't worry, they wouldn't tell anyone else anywise...
Way to go, Virginia! Way to go, Governor McDonnell!
A bit of fiscal good news for a change, even if I don’t live in the state where it occurs.
It’s probably too early for him, but as a proud Virginian, I am pleased with the job he has done. Also kudos to AG Cuccinelli.
Can somebody cite for me the last time a Democrat governor had a surplus?
*****crickets*****
IMO, he needs to finish his term as Virginia Governor. After that, he has several options ... ultimately running for President is one of them.
No, but I just spit on my keyboard thinking about it!
Thanks for the best laugh of today.
Do you expect Ken Cuccinelli to run for Governor next time around?
“Can somebody cite for me the last time a Democrat governor had a surplus”?
When they took over from a Republican .
The terrorist.
Shouldn't that be 48 minutes?
Didn’t Virginia cut taxes and regulations? And total tax revenue went up, not down. (Probably, a coincidence. At least Reid, Pelosi, and Obama would like to believe so. . . )
Well, there is that—LOL!
I’d love to hear our Governor call for a tax cut
Yeah, some things need catching up now, but soon...
So, with the right people running your state’s government, you really could do away with the personal property tax.
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