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I favor appropriations within the amount of estimated tax revenues so that we will have a balanced budget for this year and no tax increase.
ALSO, I doubt whether the shortterm borrowing proposals are permitted under the Virginia constitutional provisions which prohibit borrowing of money unless anticipated tax collections from present taxes will be sufficient to pay the loans within one year.
The proposals for a bond issue for capital improvements range from $125 million to $144 million. Such a'bond issue would be subject to approval of a vote of the people in a statewide election. I am opposed to these bond issue bills for several reasons. The economic situation for the coming year is very uncertain and this is a very dubious time for the state to be issuing bonds and borrowing on a long-term basis.
97.9%