Fiscal Integrity

Restoring Fiscal Integrity in Richmond

Virginia has repeatedly been recognized as the best managed state in America. But in recent years the fiscal integrity that Virginia was once known for has been eroded.  Our state government has sought to balance its budget through overly optimistic revenue projections, the use of one time money to pay for ongoing programs, an excessive use of debt, federal bailouts and raids of the Rainy Day Fund. As a result, we currently face a $4B budget shortfall.

Bill Bolling knows that we must restore fiscal integrity to state government.  Bill is working with Governor Bob McDonnell to make certain that we base our budgets on realistic revenue projections, reduce spending accordingly, and eliminate the budget gimmicks!

Bill's Five Part Plan for Restoring Fiscal Integrity

Bill has proposed a five part plan to help restore fiscal integrity to Virginia's state government:

• Reform Virginia's revenue projection process to make certain that our budgets are based on realistic revenue projections.
  
• Create a Government Performance Review Commission to systematically review every agency of state government to make certain that they are necessary and performing their work efficiently and without redundancy.
  
• Limit general fund spending increases to the rate of inflation adjusted for population.
  
• Amend the Constitution of Virginia to increase the amount of money the General Assembly can save each year, thus better positioning Virginia to deal with the periodic economic declines we have experienced in recent years.
  
• Amend the biennial budget process to enable an incoming Governor to propose a new budget at the conclusion of their first year in office, rather than inheriting a budget that was proposed by the outgoing Governor.