Governor Tim Kaine told an open session of the Governor’s Advisory Commission on Revenue Estimates Wednesday that the state was better off than some others but still a long way from comfortable.
The meeting was for Kaine to hear recommendations from th for budget cuts that Kaine will bring to the general assembly by Labor Day, September 7th. The first set of recommendations had to be scrapped because of the passage of the stimulus package.
The commission closed the session after a brief introduction from the governor
Kaine said that revenues, which are off by 9 percent for FY09, were down by the most in recent memory but that most states were dealing with double-digit deficits.
Kaine reiterated that the Commonwealth would weather the recession without raising taxes.
But he said he recognized that the fact that the state isn’t as bad as others, didn’t make the recession less painful for Virginians.
“Our unemployment may be two percent below the national average, but that is cold comfort for those who have been laid off,” Kaine said.
Kaine said that the state would have a better idea of next year’s budget later in the fall.
David Larter is a BizSense reporter. Please send news tips to [email protected]
Governor Tim Kaine told an open session of the Governor’s Advisory Commission on Revenue Estimates Wednesday that the state was better off than some others but still a long way from comfortable.
The meeting was for Kaine to hear recommendations from th for budget cuts that Kaine will bring to the general assembly by Labor Day, September 7th. The first set of recommendations had to be scrapped because of the passage of the stimulus package.
The commission closed the session after a brief introduction from the governor
Kaine said that revenues, which are off by 9 percent for FY09, were down by the most in recent memory but that most states were dealing with double-digit deficits.
Kaine reiterated that the Commonwealth would weather the recession without raising taxes.
But he said he recognized that the fact that the state isn’t as bad as others, didn’t make the recession less painful for Virginians.
“Our unemployment may be two percent below the national average, but that is cold comfort for those who have been laid off,” Kaine said.
Kaine said that the state would have a better idea of next year’s budget later in the fall.
David Larter is a BizSense reporter. Please send news tips to [email protected]