Category: Government Finance
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Why Northam Is Such An Important Governor
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in Abortion, Feminism, Women’s Rights, Agriculture & forestry, Business and Economy, Charity, Philanthropy, Nonprofits, Civil Rights, Individual Liberties, Consumer Protection, Defense, National Security, Energy, Environment, Federal issues, General Assembly, Governance, Government Finance, Government Transparency, Government workers and pensions, Gun rights, Health Care, Immigration, Infrastructure, Insurance, Labor and Workforce, Land use & Development, LGBQT, Media, Money in politics, Regulations, Gov’t Oversight, Science & Technology, Social Services and Entitlements, Taxes, TelecommunicationsBy Peter Galuszka This is a bit like throwing chum at a school of sharks, but here is my latest in Style Weekly. I wrote an assessment of Gov. Ralph Northam that is overall, quite positive. My take goes against much of the sentiment of other contributors on this blog. They are entitled to their…
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Stop Gap Budget Amendments
By Dick Hall-Sizemore Not surprisingly, the Governor did not try to re-write the budget in the reconvened session. There is just not enough information available now regarding the extent to which state revenues will be affected by the economic downturn brought on by the novel coronavirus. Using the process set out in the Appropriation Act…
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No Fed Return Required, Other Questions Answered
by Steve Haner There were various factual debates over my post on tax payments yesterday, and these updates are worth special attention. A morning conversation with a certified public accounting familiar with Virginia taxes brought to light the following: If you fail to file a state return by May 1, the six-month extension truly is…
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Despite Offered Delays, Pay Your Taxes On Time
By Steve Haner The latest complaint against the Northam Administration’s response to the COVID-19 pandemic is failing to provide adequate state tax relief. The complaint comes from the Tax Foundation and surfaced in a news report in Wednesday’s Fredericksburg Free Lance-Star. The Richmond Times-Dispatch has now chimed in with an editorial. Apparently most other states…
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Virginia’s Let-the-Good-Times-Roll Budget
by Kerry Dougherty We’re in a hell of a mess here in Virginia, folks. Oh, other states are in trouble too. But how many of them saw their state legislatures go on a wild spending spree less than a month ago, even while the coronavirus was spreading across the globe? How many of them have…
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The Budget Sausage Factory
by Dick Hall-Sizemore I have been going through the individual budget amendments adopted by the General Assembly. I admit it — I am a budget nerd who finds this stuff interesting. Plus, in this instance, my immersion into budget wonkery had the advantage of providing a diversion from the omnipresent discussion of the coronavirus. Budgets…
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Buying Time to Fix the Budget Hole
by Dick Hall-Sizemore To deal with the virus-created budget crisis in the short term, the Northam administration has announced sort of a “time out.” According to the Richmond Times-Dispatch, the plan will consist of two primary components: freezing all new spending and diverting planned deposits in the cash reserve to pay for essential services in…
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Boomergeddon Update: Back on Track to Self-Destruction!
by James A. Bacon It’s been ten years since I published my book, “Boomergeddon,” in which I advanced the argument that the fiscal/monetary system of the United States would collapse into chaos by the late 2020s or so. The nation has continued down the path to perdition, but not at the rate I had expected.…
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Right Wing Uses Virus To Stifle Needed Reforms
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in Blogs and Blog Administration, Business and Economy, Civil Rights, Individual Liberties, Consumer Protection, Culture wars, Demographics, Economic development, Energy, Environment, Federal issues, General Assembly, Governance, Government Finance, Government Transparency, Gun rights, Health Care, Infrastructure, Labor and Workforce, Media, Money in politics, Regulations, Gov’t Oversight, Social Services and Entitlements, TaxesBy Peter Galuszka Right-wingers in Virginia have been apoplectic for months that Democrats finally captured the General Assembly after years of Republican control. They also were enraged that the legislature this winter passed a number of reforms that would draw Virginia into the 21st Century such raising the minimum wage, boosting collective bargaining, tightening rules…
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Thank God for Medicaid Expansion
By Peter Galuszka For years after the Affordable Care Act, “Obamacare,” made millions of federal dollars available for states to expand Medicaid health coverage, Virginia Republicans steadfastly blocked Virginia from using the money. Led by former House Speaker Bill Howell and Sen. Tommy Norment, the GOP claimed that expanding Medicaid to nearly 400,000 people would…
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New Northam Financial Directive Late, Clueless
By Steve Haner When I’m wrong, I should rush to admit it. The concerns expressed by others on this blog that the Northam Administration was failing to recognize the financial aspects to the COVID-19 pandemic were valid. The person exhibiting wishful thinking was me, with my assumption they were already acting. That’s because they just…
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Is Aubrey Layne Serious about a $2B “Hit” to Virginia’s Biennial General Fund from COVID-19?
By DJ Rippert Penny Layne. Aubrey Layne is Virginia’s Secretary of Finance under the Northam Administration. Previously, Layne served as Secretary of Transportation under the McAuliffe regime. Prior to his time in government Layne held a number of executive positions in private enterprise including the presidency of Great Atlantic Properties. Layne is listed by Wikipedia…
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Expanding an Ineffective Government Solves Nothing
By DJ Rippert The failure of American government at all levels is on display with COVID-19. Is our ever expanding government working? The percentage of U.S. Gross Domestic Product spent on government has been increasing for the past 50 years. While the percentage rises during recessions and falls during good economic times the trend-line is…
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“We Are All Keynesians Now”
By Peter Galuszka John Maynard Keynes, the British economist, advocated government spending and monetary intervention as suitable for modern economies. When I was a student at a liberal college in New England in the early 1970s, we were taught that Keynes very much had the right idea. As evidence, we had the Great Society programs…
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Localities Are Re-Writing Budgets. So Should the State.
by James A. Bacon It is obvious to some people that COVID-19’s body blow to the economy will have a devastating impact on state/local government finances. Old Dominion University professors Ron Carlee and Robert McNab have estimated that local governments in Hampton Roads are losing at least $16 million a month in local taxes, while…