A Slowdown Could Hit Gop Governors Where They LiveRichard S. Dunham
For years, Virginia has been sitting pretty. Because of a high-tech boom that sent tax revenues soaring, it has been able to cut taxes while significantly boosting spending for roads, schools, law enforcement, and health care. But it's becoming increasingly clear to Governor Jim Gilmore and his bean counters that the good times aren't going to last. With the national economy slowing and tech companies stumbling, Republican Gilmore is agonizing over a series of tough fiscal decisions for 2001. Unless he finds millions in cost savings to balance the budget, the centerpiece of his 1997 campaign--eliminating the property tax on automobiles--will be delayed. "The economy is slowing, and you have to make adjustments," he says.
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