Sunday, August 4, 2024

Derrick Max< Thomas Jefferson Institute for Public Policy: Your August 4, 2024 Sunday Summary: Invitation to Reagan Movie, $1.2 Billion Virginia Surplus, 10,000 Start-ups, Tax Holiday, Weed, Good Recount, Black Jobs....and more.

1.) In case you haven't heard, there's a new movie coming out about Ronald Reagan, but this one isn't an exercise in Gipper-bashing like Hollywood exercises.  Starring Randy Quaid, Penelope Ann Miller and Jon Voight, this new film is based on the acclaimed book The Crusader:  Ronald Reagan and the Fall of Communism by Paul Kengor.  We believe folks need to see this film.  In fact, we believe it so much that we've set up a special advance premiere for our friends and supporters at 6:30 pm on August 27, at the Regal Ballston Theatre.  We hope you'll join us.  Click here to register or for more information.

2.) Virginia ended FY 2024 with $1.2 billion more than budgeted, and $1.7 billion more than the December estimates.  This extra revenue, due to a stronger than expected economy with solid job growth, will cover the added costs of the much debated repeal of the changes to the Virginia Military Survivors and Dependents Education Program (VMSDEP), the costs of needed work on I-81, and other priorities.  Gov. Younking is pushing to build on Virginia's first place finish in the CNBC ranking of best states to do business by continuing to cut taxes, while Sen. Creigh Deeds (D-Charlottsville) is calling for increased spending on education. The surplus, if anything, validates Gov. Youngkin's rejection of any tax increases in last year's budget.


3.) Governor Youngkin announced that Virginia has surpassed a campaign pledge to add 10,000 new start-up businesses during his tenure.  James Bacon took issue with the number and the difficulty of tying any number to the policies of any single Governor.  That being said, and Bacon agrees, Governor Youngkin's Compete to Win strategy has been working. 


4.) The Port of Virginia also reported continued growth over the last year.  They handled 12.9 percent more general cargo tonnage and 5 percent more ships than last year.  


5.) Virginia's Tax Free Holiday is this weekend.  School supplies, hurricane and emergency preparedness products and Energy Star and WaterSense products will not incur a sales tax.  While we love tax cuts, we agree with the Tax Foundation that such tax holidays are inefficient, administratively complicated,  and may distort the market for the items included in the holiday.  Virginia needs broad based tax reform and relief, not gimmicks.  


6.) Rather than improving its transparency and tackling very real parental concerns about student safety, the Loudoun County Public Schools has instead filed a 36-page report with the FCC complaining about the award winning reporting of WJLA-TV reporter Nick Minock.  One wonders how much education spending went into this wasteful effort…instead of fixing the problems expertly exposed by Minock.


7.) Stores selling Marijuana (illegally) are proliferating in S.W. Va as reported by Cardinal News.  Dwayne Yancey at Cardinal News wrote an insightful and entertaining account of his "investigation" of two of these stores -- where he purchased and tested (not personally, it seems) the products.  Well worth a read, regardless of your view on legalization.


8.) Attorney General Jason Miyares announced an $86 million multistate settlement in principle with opioid manufacturer Indivior for its role in spreading opioid addiction across Virginia and nationally. 


9.) As hopefully another nail in the coffin of those that doubt the security of our elections, the recount in CD5 only moved four votes, out of almost 63,000 --  confirming the victory of John McGuire over Bob Good.   VPAP did an analysis of past recounts in Virginia and found most resulted in little change.  If you are still worried about elections, follow Gov. Youngkin's advice to become an election officer (having done this, it is a powerful way to participate in our free and fair election system).  Our Steve Haner, himself an election officer, wrote an insightful article on this recount in Bacon's Rebellion. 


10.) Project 2025, rightly described by Steve Haner in Virginia Public Media (VPM) as "not new" continues to be a stalking horse for Democrats and has led to the removal of the project's director Paul Dans.  VPM notes the number of Virginia conservative figures involved in the project.  


11.) Virginia's "Internet for All" bid for almost $1.5 billion to expand broadband access was approved by the Department of Commerce.  Gov. Youngkin's plan is estimated to reach 160,000 residences, businesses, and public institutions.


12.) A deadly listeria contamination at a Virginia plant has led to the recall of 7 million pounds of Boar's Head deli meats -- here is the recall list.


13.) The Institute on Taxation and Economic Policy released a report saying that undocumented immigrants add nearly $700 million to Virginia's tax revenue.  In response on WHRO Public Media, I noted that the report fails to subtract the cost of public services to these undocumented immigrants.  I also noted that while legal immigration is surely a benefit, on net, to our economy, every effort should be made to limit illegal immigration and to find a way to move undocumented persons into some kind of legal status.  


14.) The "black jobs" narrative that I criticized was humorously parodied by Simone Biles after her stunning Gold Medal Olympic performance…enjoy.



In Unity and Freedom