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Tax Cuts Deliver for Virginia: $550 Million Surplus

Garren Shipley - July 12, 2018

Remember when tax cuts were going to be armageddon? When tax reform was really just highway robbery
 
Looks like somebody forgot to tell Virginia. The Commonwealth just posted a massive $550 million budget surplus for the final year that ended June 30th. The trend lines started improving not long after the Tax Cuts and Jobs Act passed. Today, the Northam administration grudgingly admitted that tax cuts were good for the Virginia economy.
 
 
"I think a lot of it has to do with the (federal) budget passed by Congress, increasing defense spending, and the tax cuts at the federal level," Secretary of Finance Aubrey Layne said in an interview.  
 
Meanwhile, Democrats running for Congress continue to rail against the tax cuts.
 
• Jennifer Wexton: I think the first thing we do is try to roll back the tax cuts.
 
• Abigail Spanberger: We need comprehensive tax reform, but what Congress just passed is not it.
 
• Leslie Cockburn has yet to find the first positive thing to say about tax cuts — but has bashed her opponents for supporting them.
 
 
Question: If near record job creation, record low unemployment, and a massive state surplus isn’t enough to get Democrats to admit they were wrong, what would be?

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