‘Enterprise is nice’: Northam hails $2.6 billion surplus in speech to cash committees | Govt-and-politics




Senator Janet Howell, D-Fairfax, left, chairman of the Senate Finance and Appropriations Committee, and Del. Luke Torian, D-Prince William, chairman of the House Budgets Committee applauded Governor Ralph Northam’s speech at a joint Legislative Monetary Committee meeting on Wednesday highlighting Virginia’s record budget surplus and economic outlook.




Governor Ralph Northam speaks at a joint Legislative Committee meeting where he highlighted Virginia’s record budget surplus and economic prospects.

In a speech to lawmakers on Wednesday, Governor Ralph Northam praised the state’s historic revenue surplus of $ 2.6 billion – and pledged a portion of that money in his upcoming budget for pandemic recovery, state police salaries, and that using the state’s battered behavioral health system.

Northam, who will propose a new biennial budget in December before stepping down in January, praised the COVID-19 vaccine, financially conservative decisions at the state level, and the federal government’s financial support for businesses and families.

“We need to understand how this happened: 2020 was a deeply difficult year, but Virginia is open to business – and business is going well,” Northam said during a joint meeting of the General Assembly’s monetary committees.

“We achieved all of this during a pandemic that many expected to be beyond our budget – and have done just that with many other states,” added Northam.

The government first announced sales in July when it confirmed the state had raised an additional $ 3.1 billion from the previous fiscal year. That is a growth of 14.5% compared to the expected 2.7%.

In an otherwise celebratory speech, Northam highlighted the uncertainty the COVID-19 pandemic continues to pose to Virginia and its economy.

“We don’t know what the future holds. If you’d asked me about the pandemic in June, I would have said we could have a fall that looked almost normal. But now we know that won’t be the case, thanks.” on the Delta variant, “Northam told lawmakers.

Cash Committees overview mining tax invoice that can pump $300-plus million into Ok-12 training over subsequent two years

Assembly members during the within-legislature session on Tuesday, March 9, 2021 in Carson City. Photo: David Calvert / The Nevada Independent

Monday, May 31, 2021

The Legislative Money Committees on Sunday examined a bill that will pump more than $ 300 million into K-12 formation over the coming biennium.

Bill 495 is a consensus bill that has been approved not only by lawmakers and the governor, but also by mining and education stakeholders.

It does this by diverting the expected $ 140 million from the existing net proceeds from the mines’ tax revenues into the K-12 budget.

Additionally, the bill includes an excise tax on gross proceeds from gold and silver mines in Nevada. This tax would hit mines with gross revenues of $ 20 million to $ 150 million per year and a levy of 0.75 percent. It would hit mining operations that generate more than $ 150 million a year with a 1.1 percent levy on gross and generate up to $ 170 million more for the biennium, increasing the overall infusion into the K- 12 education amounts to more than $ 300 million.

The hearing of the bill by Assembly Speaker Jason Frierson, D-Las Vegas, was held jointly between the Senate Finance and Assembly Routes committees to expedite processing as Monday is the last day of the 120-day 2021 legislature .

Additionally, the bill would redirect approximately $ 200 million in American Rescue Plan Act funds to K-12 education.

Frierson said the bill was the culmination of months of work between all parties to reach an agreement on a plan that will get the miners to pay more and use the money to educate students in Nevada.

The two committees took no action against AB495 on Sunday evening.