The Commonwealth Institute monitors the budgetary, tax and fiscal policies of Virginia and provides independent research and analysis. Reports and analyses from the current year are posted here. Work from prior years can be found in the Archive or by using the Categories and Tags at right.
Current Analysis (2012)
Cuts to Health Care Are Bad for Virginia’s Economy
New report shows Governor’s budget proposal will eliminate jobs and services for thousands of Virginians
Governor McDonnell proposes a set of deep cuts to health care in Virginia that will mean over $800 million in lost business activity in the economy, further increased costs for Virginians with private insurance, near elimination of state support for cost-effective health care providers such as community health centers, and reduced access to needed services for thousands of Virginians.
Recent Analysis (2011)
In the Red: Early Warnings about Virginia’s Fiscal Outlook
Released July 25, 2011
Despite years of cuts to public services and slowly rebounding state revenues, Virginia faces an estimated budget shortfall of more than $800 million in the upcoming 2012-2014 biennial budget, according to a new report released today by The Commonwealth Institute for Fiscal Analysis. The report, In the Red, provides a forecast of state revenues and expenditures based on publicly available data.
Not Measuring Up: Budget Cuts, Expiring Recovery Act Put Virginia Behind
Released April 7, 2011
A new report shows a massive gap in the state budget between the funding required to support public services in Virginia and the funding available for them. While the gap was already significant due to years of cuts to services such as education, health care and public safety the report – Not Measuring Up – shows how the gap is made even wider by the expiration of federal Recovery Act funding. In addition, Virginia’s recent revenue increases are modest compared to the expiring Recovery Act funding. Moreover, Virginia lawmakers are redirecting that modest revenue growth to other areas of the state budget instead of the areas supported by the Recovery Act, further underfunding services like education and health care.
Building a Better Rainy Day Fund
Released February 3, 2011
When the recession hit Virginia, legislators dipped heavily into the state’s “rainy day fund” to help balance the budget and keep important services up and running. But the fund could have been stronger, according to a new report published today by the Commonwealth Institute. The report also shows how efforts under way now to improve Virginia’s rainy day fund will help the state deal with future budget shortfalls more effectively.