By Kavitha Cardoza
Virginia Governor Bob McDonnell will announce to state lawmakers (General assembly money committees), a budget surplus of more than $400 million, nearly double the previous estimate.
A little more than half that amount was from tax collections, the rest was from unspent balances from state agencies. McDonnell is expected to announce how he will spend the money; published reports say approximately $150 million will be spent on education, Chesapeake Bay cleanup efforts and a one time raise for state employees.
Legislative Democrats credit former Virginia governor Tim Kaine and say the surplus should never have been surprising. They say McDonnell downplayed estimated revenues, creating the perception of a rebound under his watch.