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Charlottesville Regional Chamber of Commerce Issues "Statement" on Virginia Fiscal & Tax Proposals
(Charlottesville, Virginia - February 11) The Charlottesville Regional Chamber of Commerce today released its formal "Statement Regarding Various Virginia 2004 - 2006 Fiscal & Tax Proposals" - which the chamber has communicated to the Virginia General Assembly, Administration and other Chambers and business organizations.
The Chamber statement noted that the various "proposals represent fiscal plans and tax restructuring; not real 'tax reform.' " It also stated:
"Our Commonwealth of Virginia deserves a sound budget and tax structure which:
Preserves & strengthens Virginia's position as an excellent fiscal steward;
Maintains Virginia's attractiveness and competitiveness;
Invests properly in Virginia's core state responsibilities - a particularly education and transportation - while restrains government to those core responsibilities;
Improves Virginia's tax equity, envisioning needed fundamental tax reform;
Is built in the Virginia tradition of cooperative, bipartisan government."
"Our Chamber statement responds to the various fiscal and tax proposals circulating the Capitol," said Ivo Romenesko, President of Appraisal Group, Inc. who serves as 2004 Chairman of the Chamber Board of Directors. "It was developed through review and discussion of our Chamber Government Affairs Committee and Board of Directors. It is incumbent upon us to communicate to Richmond."
"As the region's leading business and civic organization, our Chamber perspective is both requested and respected," added Christopher Lee, Chairman of the Chamber Government Affairs Committee and a member of the Chamber Board.
The Charlottesville Regional Chamber of Commerce is dedicated to representing private enterprise, promoting business and enhancing the quality of life in the greater Charlottesville communities. Founded in 1913, today the Chamber has 1,200 member businesses and civic organizations. Chamber members employ more than 45,000 men and women in the Charlottesville region, representing an estimated total payroll of more than $1.3 billion a year.
Statement Regarding Various Virginia 2004 - 2006 Fiscal & Tax Proposals
Governor Mark Warner, General Assembly Leaders and a number of business and civic organizations have outlined a variety of fiscal and tax proposals to address the Commonwealth of Virginia's overall fiscal and tax structure. These proposals represent fiscal plans and tax restructuring; not real "tax reform." Our Chamber supports fundamental tax reform and we believe that the Commonwealth's failure to pursue tax reform is shortsighted. We are distressed that initiatives for fundamental tax reform have given way to the necessity to address the Commonwealth's fiscal situation.
Our Commonwealth of Virginia deserves a sound budget and tax structure which:
Preserves & strengthens Virginia's position as an excellent fiscal steward;
Maintains Virginia's attractiveness and competitiveness;
Invests properly in Virginia's core state responsibilities - a particularly education and transportation - while restrains government to those core responsibilities;
Improves Virginia's tax equity, envisioning needed fundamental tax reform;
Is built in the Virginia tradition of cooperative, bipartisan government."
Our Chamber urges the Governor and the General Assembly to reaffirm "resolute bipartisan stewardship to sound governmental financial practice," and to take those actions necessary to maintain and indeed strengthen Virginia's "gold standard" AAA financial rating.
It is essential that Virginia maintain a financial and tax climate responsive and attractive to its citizens and businesses. Virginia must vigorously pursue additional opportunities to reduce expenditures and gain greater operating efficiencies before resorting to additional taxation. We support "trust funds" managed as trust funds dedicated to their purpose. Proposals to restructure, raise and lower taxes and reduce expenditures deserve meritorious consideration, understanding that some added revenues may be necessary. We are concerned that changes to Virginia's corporate tax structure that reduce Virginia's business attractiveness and competitiveness could be injurious to Virginia's economic vitality.
Our Chamber supports funding the Commonwealth's "core" responsibilities including - education, transportation and public health and safety. We do not support expansion of the Commonwealth's governmental involvement beyond its core responsibilities. Our Chamber agrees with the Virginia Chamber of Commerce and others that Virginia's current investment in transportation and education is inadequate and needs added investment. Without added investment in education and transportation, our Commonwealth will not meet its core responsibilities and will jeopardize Virginia's future vitality - both economically and in our quality of life. This increased investment can be found first with re-ordered funding priorities, thereafter with new revenues or most likely, by a combination of both sources.
Finally, our Chamber also urges a renewed commitment to reason, reasonableness and resolution as the General Assembly and Governor proceed in their discussions and deliberations.
-- February, 2004
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