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Posted at 9:55 AM ET, 12/17/2010

Va. revenue forecast revised upward

By Anita Kumar

Virginia Gov. Robert F. McDonnell said Friday he will revise the state's revenue forecast upward by $283 million -- $134 million in fiscal year 2011 and $149 million in fiscal year 2012 -- because he expects Virginia to collect more tax revenue over the next two years.

"The conservative upward projections reflect stronger than planned growth in income tax withholding and sales tax revenues; good indicators of an uptick in economic activity,'' he told legislators in his annual speech to the General Assembly's financial committees Friday morning.

By Anita Kumar  | December 17, 2010; 9:55 AM ET
Categories:  Virginia  
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Comments

But, I thought taxes were EVIL and TERRIBLE? Cut those sources of income, Mr. Gov!

Posted by: Bious | December 17, 2010 1:25 PM | Report abuse

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