Budget Surplus: Doubled

Just a few hours ago, Governor McDonnell delivered the annual Address to the Joint Money Committees of the General Assembly.

In his address, the Governor confirmed that Virginia has a budget surplus of over $400 million, double what was anticipated in July.

With the support of both Democrats and Republicans in the General Assembly, Governor McDonnell has achieved real results for Virginia, turning a $1.8 billion budget deficit into a $400 million surplus by cutting spending and not raising taxes, and has put in place policies to encourage job creation which have made Virginia the most business-friendly state in America.

Below is some coverage of the good news. I hope you will help tell Virginia’s success story by forwarding it to your family and friends.

Finally, please tune in to Fox Business Network at 5:15pm today to watch Governor McDonnell discuss the surplus and how fiscally conservative, pro-growth policies are laying the foundation for more jobs and opportunity throughout the Commonwealth.

Thank you very much for your continued support.

McDonnell to state lawmakers: ‘Budget conservatively’ despite surplus
While Virginia finished the last fiscal year in the black, the development hardly marks the end of the state’s fiscal challenges

http://www.roanoke.com/news/breaking/wb/257459

Virginia budget surplus grows to $400 million
Sweeping the corners of the state’s cash drawer, the McDonnell administration has found an additional $174 million—pushing to about $400 million the leftover funds possibly available for recession-wracked programs.

http://www2.timesdispatch.com/news/2010/aug/18/budg18-ar-459418/