Remarks by Governor Bob McDonnell to the Senate Finance, House Appropriations and House Finance Committees

Remarks by Governor Bob McDonnell to the Senate Finance, House Appropriations and House Finance Committees

On August 19, Virginia Governor Bob McDonnell addressed the joint Senate Finance, House Appropriations and House Finance Committees in Richmond. During his address, McDonnell said, “Last session we faced a potential $1.8 billion shortfall in the remaining FY 2010 budget. Today I am pleased to report that we closed the fiscal year with a $403.2 million surplus. We collected $228 million more in revenues than expected and spent $175 million less than budgeted.”  He added, “We have seen some slight economic growth recently in the Commonwealth. I thank Virginia's business owners and entrepreneurs for their willingness to take risks in a tough economy. Those risks are paying off in the form of new jobs and increased tax revenue.”  Read the Governor’s remarks.

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