Looking ahead to an even better, safer, more prosperous and opportunity filled future, Virginia Republican leaders in the General Assembly are championing a forward-looking agenda for governing that builds upon their past accomplishments.
State Budget / Rainy Day Fund
· Maintaining a structurally balanced state budget by not inappropriately using the state’s “Rainy Day Fund” during a non-recessionary period to address a nearly $300 million forecasting error by the Kaine Administration, without which an announced $641 million budget shortfall by the Governor on October 1 would be too minimal to allow for such a withdrawal.
· Ensuring effective, long-term budget management practices are followed. Republicans believe it is ill advised to begin the practice of using the state’s “nest egg” when the economy is growing, albeit at a slower rate. Doing so runs the risk of establishing a bad and undesirable precedent that suggests the Commonwealth can overspend taxpayer resources without consequence. As national rating services have singled out the Rainy Day Fund as a key factor in preserving Virginia’s AAA bond rating, an imprudent or convenient use of these taxpayer dollars could unnecessarily endanger the Commonwealth’s hard-earned status.
No comments:
Post a Comment