Search Results for: layne

Is Aubrey Layne Serious about a $2B “Hit” to Virginia’s Biennial General Fund from COVID-19?

By DJ Rippert Penny Layne. Aubrey Layne is Virginia’s Secretary of Finance under the Northam Administration. Previously, Layne served as Secretary of Transportation under the McAuliffe regime. Prior to his time in government Layne held a number of executive positions … Continue reading

Layne Cautions Again about Excess Debt and Risk

The good news in Secretary of Finance Aubrey Layne’s presentation to the House Appropriations Committee this morning is that General Fund revenues, after a below-forecast start to the fiscal year, surged 27.4% in April. On a year-to-date basis, total revenues … Continue reading

Micron Incentives Were Behind Layne Warnings

One mystery solved:  Secretary of Finance Aubrey Layne was probably talking about Micron Technology in Manassas on August 17 when he warned the General Assembly about some very expensive economic development incentive package not yet announced or accounted for in … Continue reading

Northam Appoints Layne as Virginia CFO

In an important signal of how he plants to govern, Governor-elect Ralph Northam announced yesterday his appointment of Transportation Secretary Aubrey Layne as his Secretary of Finance. Layne will replace Ric Brown, who is retiring after serving three consecutive governors … Continue reading

Layne's Law

by James A. Bacon After spending a year and a half cleaning up the mess left by the previous administration — the Charlottesville Bypass, Norfolk’s Midtown-Downtown Tunnel, the U.S. 460 Connector in Tidewater — Transportation Secretary Aubrey Layne now has … Continue reading

Layne’s Law

by James A. Bacon After spending a year and a half cleaning up the mess left by the previous administration — the Charlottesville Bypass, Norfolk’s Midtown-Downtown Tunnel, the U.S. 460 Connector in Tidewater — Transportation Secretary Aubrey Layne now has … Continue reading

Feet-to-the-Fire Time for Layne, Kilpatrick

by James A. Bacon Virginia taxpayers will have to suck up a $400 million to $500 million loss if the U.S. 460 upgrade between Petersburg and Suffolk never gets built, Transportation Secretary Aubrey Layne told the House Appropriations Committee yesterday. “If … Continue reading

“People Have Stopped Buying Automobiles”

By Dick Hall-Sizemore That is how Aubrey Layne, Secretary of Finance, summed up his explanation to the House Appropriations Committee of April’s 15% drop in transportation revenue All of the major components of the transportation revenue were down in April, … Continue reading

Juggling the Revenue

By Dick Hall-Sizemore Jim Bacon mentioned in an earlier post that the state’s revenues for April were $700 million less than in April of last year.  I was surprised that there were no cries of outrage from readers and dire … Continue reading

Who Sets the Protocols for COVID-19 Testing and Tracing – the State or Localities?

by James A. Bacon The Northam administration plans to dispatch $650 million of federal helicopter dollars directly to cities and counties to help cover the cost of responding to the COVID-19 epidemic. The state’s priorities for monies received under the … Continue reading

Stop Gap Budget Amendments

By Dick Hall-Sizemore Not surprisingly, the Governor did not try to re-write the budget in the reconvened session. There is just not enough information available now regarding the extent to which state revenues will be affected by the economic downturn … Continue reading

Virginia’s Let-the-Good-Times-Roll Budget

by Kerry Dougherty We’re in a hell of a mess here in Virginia, folks. Oh, other states are in trouble too. But how many of them saw their state legislatures go on a wild spending spree less than a month … Continue reading

Buying Time to Fix the Budget Hole

by Dick Hall-Sizemore To deal with the virus-created budget crisis in the short term, the Northam administration has announced sort of a “time out.” According to the Richmond Times-Dispatch, the plan will consist of two primary components: freezing all new … Continue reading

Boomergeddon Update: Back on Track to Self-Destruction!

by James A. Bacon It’s been ten years since I published my book, “Boomergeddon,” in which I advanced the argument that the fiscal/monetary system of the United States would collapse into chaos by the late 2020s or so. The nation … Continue reading

New Budget Woes

By Dick Hall-Sizemore The outlook for the state budget gets grimmer. The most immediate concern is the budget for the current year. The state collects about a third of its fiscal year revenue in the last quarter (April-June). Income tax … Continue reading