Who would have thought that the dog days of summer would bring cooler temperatures? Although summer may be winding down, we have been busy here at the office with the various legislative committee meetings and the upcoming elections.

In this month’s update, we have news on another top pro-business ranking for Virginia, a report from Governor McDonnell at yesterday’s Joint Money Committees meeting, and a reminder about the August 23rd Primary Election for the Board of Supervisor seat in the Bermuda District of Chesterfield.

Virginia Named Top Pro-Business State for 2011 by National Study

For the third straight year, Virginia was named the most pro-business state by the Pollina Corporate Real Estate study: “Pollina Corporate Top 10 Pro-Business States for 2011: The Rise of the West.” Virginia won the 2011 top-ranking by the largest margin in the history of the study.

This study reaffirms our state government’s prolonged commitment to Virginia businesses and job creation. Looking ahead, Governor McDonnell and Republicans in the House of Delegates will continue to work together to advance legislation that will help Virginia businesses grow and create new jobs.

Click here to read more about the study from Pollina.

Governor Announces $544 Million Surplus in Fiscal Year 2011 at Joint Money Committees Meeting

Yesterday morning, I attended the Joint House and Senate Money Committees meeting to hear Governor McDonnell’s semi-annual update on the state budget. At the meeting, McDonnell announced a $544 million surplus for FY 2011. This surplus is the result of the Governor and General Assembly’s commitment to producing fiscally sound budgets that have reduced wasteful spending, made targeted investments in the core functions of government without raising taxes on Virginia families.

When Virginia has a surplus, the state Constitution dictates that certain portions of the surplus be allocated to certain funds. The first constitutional mandate prudently requires that $132 million of the surplus be allocated to the state’s Rainy Day Fund to help us prepare for any future revenue shortfalls. Our Constitution also requires that we put $50 million of the surplus towards the Virginia Water Quality Fund. While not constitutionally required to go towards certain funds, Governor McDonnell made a sound decision in directing $7.2 million in supplemental funding to sheriffs’ offices and accelerating our repayments to the Virginia Retirement System.

In my opinion, the biggest announcement from Governor McDonnell was his intention to formulate legislation to establish a “Federal Action Contingency Trust” Fund (FACT Fund). In light of Standard and Poor’s downgrading the U.S. credit rating and the likely upcoming cuts to the federal budget, Virginia needs to show that it can withstand federal cuts to state funding and still thrive. The fund would provide us added flexibility to deal with those circumstances which would otherwise not be permitted by law by using the Rainy Day Fund. Simply put, this fund would be an important tool in helping Virginia keep its perfect AAA credit rating.

I fully support the establishment of this fund and will work with Governor McDonnell to make this fund a reality.

Click here to read more about the $544 million surplus.

Reminder – Republican Primary for Bermuda District Supervisor on Tuesday, August 23rd

One final note, next Tuesday, August 23rd is Primary Election Day in the Bermuda Magisterial District. It will be the only election in Chesterfield County. If you live in one of the following precincts – South Chester, Enon, North Chester, Harrowgate, Drewry’s Bluff, Wells, Ecoff, Elizabeth Scott, Dutch Gap, Ironbridge, or Carver you will be able to vote in the Republican Primary for the Bermuda Board of Supervisor member. If you are unsure of the precinct in which you reside, please click here to determine your precinct. The polls will be open from 6AM to 7 PM and you will vote in your normal voting location. My good friend Dorothy Jaeckle, who has done an excellent job as Supervisor, is running for re-election. I encourage you to exercise your right to vote.

In Closing

If my staff or I can be of service to you, please contact my district office by phone at 526-5135, by mail at P.O. Box 1205, Colonial Heights, VA 23834, or by email at DelKCox@house.virginia.gov.

Thank you for the privilege of serving as your Delegate.

Share/Bookmark