nvdaily.com link to home page

Traffic | Weather | Mobile Edition
Archives | Subscribe


Virginia Is For Politics arrow Bob McDonnell arrow Economy

| 0 | 1 Comment
Jeb Inge

Commonwealth posts 6.6 percent revenue in August


Virginia's general fund revenue collections continue to rise.

Gov. Bob McDonnell announced Friday that commonwealth revenues rose 6.6 percent in August, a month typically not significant for collections.

Revenues on a year-to-date basis climbed 2.7 percent through August, almost reaching the forecast of 2.9 percent, according to the release. Despite the revenue growth, net individual income tax fell 1.5 percent. The governor's office cites timing issues with withholding collections for causing the drop.

"Following our third-straight budget surplus, Virginia continues to demonstrate why it is among the best states in the nation in which to do business and live the American Dream," McDonnell stated in a release. "While today's economic indicators are mixed, illustrating our need to continue to make conservative, sound fiscal decisions, they do demonstrate that by keeping taxes low and putting in place policies that help the private sector, we can help get our economy back on track."

In the release, McDonnell expressed fear that federal sequestration cuts, which would include defense spending reductions, would harm Virginia's labor force and economy.

"We still confront much uncertainty on the federal level, especially in terms of the future of our national defense budget," McDonnell stated. "In addition, we continue to contend with federal policies that are detrimental to private-sector job creation and, unfortunately, are making any recovery more difficult."

Republican campaigns, including those of former governor George Allen and presidential candidate Mitt Romney, have attacked the potential sequestration cuts as threats to Virginia jobs.




1 Comment



Someone should tell the Romney campaign then because either Va revenues are lying or Romney is...

http://www.bloomberg.com/news/2012-09-10/romney-anti-obama-ads-undercut-virginia-governor-messages.html



Leave a comment

What do you think?

(You may use HTML tags for style)

Comments

Comments that are posted on nvdaily.com represent the opinion of the commenter and not the Northern Virginia Daily/nvdaily.com. If you feel that a comment is objectionable, please click on the Report Abuse link above and in your e-mail to us include the comment. We will review the reported comment and make a decision on deleting it if we feel that it contains inappropriate content.



Latest Local News

Star Readers Recommend










Look Who 'Likes' nvdaily!



Daily readers: Click the "LIKE" button above to get Daily news and breaking news alerts on your Facebook page.

Activity & Recommendations



Topics

Andy Schmookler Barack Obama Bill Bolling Bob Marshall Bob McDonnell E.W. Jackson Economy Election 2012 General Assembly George Allen GOP Primary Hampton Roads Jaime Radtke Judiciary Ken Cuccinelli Michelle Obama Mitt Romney MWAA Northern Virginia Paul Ryan Richmond Shenandoah Valley Southside Southwest Va. Tim Kaine Transportation U.S. House of Representatives U.S. Senate Va. 6th Dist. VDOT




News | Sports | Business | Lifestyle | Obituaries | Opinion | Multimedia| Entertainment | Homes | Classifieds
Contact Us | NIE | Place a Classified | Privacy Policy | Subscribe

Copyright © The Northern Virginia Daily | nvdaily.com | 152 N. Holliday St., Strasburg, Va. 22657 | (800) 296-5137

nvdaily.com
Best Small Daily Newspaper in Virginia!


nvdaily.com | seeshenandoah.com