by Dick Hall-Sizemore
After more than a decade of state budget revenue shortfalls and concomitant budget cuts, one would think there would be smiles all round at the news of revenues coming in substantially above the projections, resulting in a healthy general fund surplus. Incongruously, that was not the case.
Republicans seemed to be outraged that the state brought in so much more money than was projected. There were calls to give it back to the taxpayers. It is somewhat curious that these are the folks who often demand that government be run like a business, yet there are no demands that large companies, such as big oil companies, for example, give refunds to their customers when they bring in record profits.
Governor Youngkin, not satisfied with large tax cuts in 2022, wants taxes cut even further. In July, citing the expectation of revenues exceeding the forecast (which was admittedly on the low side), he declared, โThereโs no reason why we shouldnโt be able to have a substantial tax reduction.โ In his address to the money committees in August, after citing the advances his administration had accomplished with the increased revenues and the challenges still ahead, he announced, โThis is our moment to soar.โ But, not too high, it would appear, because โwe must provide substantial tax relief.โ (more…)




by Jon Baliles



by Dick Hall-Sizemore


by David Wojick
by Joe Fitzgerald
