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Tax
From Page A1
historic stalemate past Saturday, the close of the state’s legislative session.
Chappell, too, sees a chance they will come to a budget compromise Saturday which would then give him time to complete hearings on the school budget and deliver it to the Board of Supervisors on April 1.
At issue in Richmond is whether the state can forestall a fall in its bond rating by a reform of its tax system or can hold back fiscal disaster by simply cutting business deductions and picking up fees to avoid a general tax increase.
For most of the 1990s, Virginia trimmed taxes under Republican leadership, becoming the standard bearer of the GOP's national crusade against taxes.
But the recession of the last three years, followed by a jobless recovery has shaken the resolve of many Virginia Senate Republicans as to whether the state’s permanent financial standing is
96.4%