Statement of Bob McDonnell on Governor’s Announcement of $1.5 Billion Budget Shortfall

RICHMOND- Bob McDonnell, Republican gubernatorial nominee and former Attorney General of Virginia, released the following statement today regarding the Governor’s announcement of an additional $1.2 billion budget shortfall for FY 2010. Combined with a remaining $300 million shortfall from last year, the Commonwealth faces budget cuts of $1.5 billion.

“Virginians continue to face the worst economy in generations. In every city and every county Virginians are worried about their jobs, their home values, and their retirement accounts. The fiscal struggles facing our citizens also equally confront our state government.  State revenues continue to decline. And, yet again, the Governor has announced that we face another significant budget shortfall. Now, we must come together, across party lines, to close this shortfall, and balance our state budget in accordance with the Virginia Constitution.”

“The manner by which we close this shortfall, and budget in the years ahead, will play a determining role in how Virginia emerges from this recession. Some would argue for tax increases to fill the revenue gap. My opponent has repeatedly supported higher taxes on the people of Virginia. Recently he made clear he would support additional tax increases if elected this November. That is the wrong approach to take, both for our citizens and for our government. We must close this shortfall, and craft future budgets, without burdening our citizens with additional taxes that they cannot afford. “

“As Attorney General I cut my office’s budget by 14%, took a pay cut and gave back my state car. Those are the kinds of tough decisions Virginians expect to see out of our state government.  We must look for every opportunity to be creative in our budgeting, to consolidate state functions, and to implement innovation and budget prioritization in Richmond. That is how Governor Doug Wilder addressed significant budget shortfalls during his administration, setting the Commonwealth on a positive fiscal course in the years ahead. We must always be responsible with the taxpayers’ hard earned dollars. Our focus must be on supporting policies that will facilitate growth in the private sector, encourage entrepreneurship, and allow Virginians to achieve their dreams, and in so doing, expand our economy.”

“This is not an easy time for the people of Virginia. It is not an easy time in Richmond. Just as families sit around their kitchen tables making tough decisions and prioritizing their budgets, so too should Richmond. By making the tough decisions today, we will secure a more prosperous tomorrow. And that will ultimately benefit every citizen of our state.”