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By Matt Kibbe
The short-term deal will assure long-term overspending
Independent voices from the The Washington Times Communities
Topic - Michael Cassidy
Northern Virginia, despite a median household income ranked among the highest in the country and an enviably low unemployment rate, has endured growing income inequality and a heightened need for public benefits compared with the rest of the state during the economic downturn, a new report shows.
The high cost of providing health insurance and a general willingness among businesses to skimp on employee benefits has left Virginia with its lowest rate of workplace health coverage in almost 20 years, according to a new study.
The gap between the top 10 percent of earners and the bottom 10 percent in Virginia is the highest it's been in 30 years and ranks second only behind New Jersey, a report released Tuesday says.
Virginia is facing a shortfall of about $800 million in its next budget, according to a report released Monday by think tank the Commonwealth Institute for Fiscal Analysis.
Michael Cassidy, president and CEO of the Commonwealth Institute for Fiscal Analysis, a liberal-leaning Richmond-based think tank, said it's "too early to tell" whether Virginia's tax legislation is significantly affecting fuel prices that have held steady.
"I'm not sure it would be fair to link that to tax policy change," he said.