Uh, oh, I’m on public-policy overload right now! We’ve got the Governor’s energy plan, a GOP health care initiative, and an ongoing war of words over the budget. Let’s start with the budget…
When last I reported, senior GOP legislators in the General Assembly had urged Gov. Timothy M. Kaine not to dip into the General Fund to address this year’s revenue shortfall. (See “Don’t Touch the Rainy Day Fund.”)
The Governor responded assertively. First, the revenue shortfall meets the constitutional trigger to use the Rainy Day Fund. Second, he has requested state agencies to tighten spending, and he plans to announce mid-year cuts. Third, he is exploring some options, including “changing the timing or manner of capital spending.” And fourth, he is holding onto the option of using reserve fund revenues if he absolutely needs to.
Now Sens. Walter Stosch, R-Henrico, and William Wampler, R-Bristol, have shot back: What’s this about changing the “manner” of capital spending? “As we all know, there are only two means of financing capital projects — cash or debt. Given that we are currently using cash, we read your response as indicated that debt is now an option.”
I am interested to see the Governor’s retort to that piece of deduction. You can read the complete letters here:
Sept, 10, 2007, letter from Del. Vincent F. Callahan, R-McLean, Del. Lacy Putney, I-Beford, Sen. William C. Wampler, and Sen. Walter A. Stosch.
Sept. 11, 2007, letter from Gov. Timothy M. Kaine
Sept. 12, 2007, letter from Sens. William C. Wampler and Walter A Stosch