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budget, do it with no new taxes and position Virginia as strong, pro-business and fiscally responsible,” said Beyer.
The commission on economic recovery, said Beyer, stemmed from early efforts to solve the budget crisis. The lieutenant governor said he spent the first days of the 1991 General Assembly session exploring the idea of eliminating the capital gains tax in Virginia. Though state economists said that the suggestion could not be used, Beyer said he plans to use the commission to explore similar ideas.
“This is my commitment that we have to do more than just balance the budget. We also have to stop the slide and turn it around and make it come back,” said the lieutenant governor.
The commission would serve as an “economic development bank” to
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