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Virginia Reports $129M Surplus For Fiscal 2012

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Virginia's budget surplus is due to increased tax receipts, but could take a hit from federal sequestration.
Virginia's budget surplus is due to increased tax receipts, but could take a hit from federal sequestration.

The Commonwealth of Virginia has reported a $129 million budget surplus for the 2012 fiscal year ending last month, as revenues exceeded the official forecast on which the budget was based.   

Finance Secretary Ric Brown says revenues for the twelve months ending June 30 increased by 5.4 percent over the previous fiscal year, according to the Associated Press. Individual withholding, the tax most people pay on their wages, finished almost $34 million ahead of expectations. Sales tax collections added $55 million to the surplus, and corporate income taxes were $32 million more than expected.   

Nonwitholding income taxes collected on dividends and by the self-employed were down slightly, but the state paid out less in refunds.

Gov. Bob McDonnell will address the revenue report on Tuesday.

WAMU 88.5

The Music And Legacy Of Motown

Motown founder Berry Gordy and director Charles Randolph-Wright of “Motown the Musical" join Diane for a conversation about the history of Detroit's famous sound.

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Will Montgomery County Go "Bottoms Up" On Liquor Laws?

Since Prohibition, Montgomery County has held the purse strings on liquor sales, meaning the county sells every drink from beer to bourbon to local bars and restaurants. But local business owners are pushing back from this system, claiming it lacks efficiency and leaves customers waiting. County officials say they are holding out for alternatives that protect those within the industry. We discuss both sides of the issue today.

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Exelon's Chief Strategy Officer On Its Proposed Takeover Of Pepco

Kojo chats with Exelon's chief strategy officer about the company's vision for electric service in the Washington region, and its argument for why its acquisition of Pepco is in the best interest of customers.

WAMU 88.5

Computer Guys And Gal

Another year is coming to a close and the Computer Guys And Gal are here to discuss this year's biggest technology news, including the growth of virtual reality and the "Internet of Things."

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