Let's see - balanced budget amendment - yep, I voted for that, in 1981, I think. VA cannot legally have a $2B surpluss.
So where did the money go?
Your guess is as good as mine :)
But I did read in the Pilot this morning that some dem from aruond Hampton Roads plans on sponsoring legislation to permit all counties to have a cigarette tax, to reduce pressure for raising property taxes...
Great...that passes than property owners who happen to smoke will get nailed twice, while helping subsidize the non-smokers.
A lot of it went to the vaunted "rainy day fund".
The rest is being spent on the Chesapeake Bay, mental health facilties, boosting research programs at UVA, VCU, GMU, VaTech, etc.
Please note: NONE is being returned to the taxpayers. NOT ONE NICKEL.
And watch out, Warner-lite - aka Tim Kaine - is going to want more tax increases to pay for roads.
First, as you know, Virginia was never short $2B. Revenue was lower than projected, but there was never a shortfall. The budget still grew.
Second, the balanced budget means there can be no deficit spending. They have mechanisms in place to deal with "extra" money.
Unfortunately, none of which are returning it to the people from whom they stole it in the first place.