If you live in The Commonwealth of Virginia your tax breaks may be on the chopping block. A new study by The Commonwealth Institute says that the state government needs to look at “trimming back” tax cuts to balance the state budget. It gets better.

The Commonwealth Institute is the economic research arm of the liberal Virginia Interfaith Center and they think your tax breaks are the reason the state’s budget isn’t lining up. Get this quote out of The Richmond Times-Dispatch:

The Commonwealth Institute, economic research arm of the liberal Virginia Interfaith Center, says the state currently loses $2.5 billion a year to tax cuts and credits, some of which may no longer be justified.

Did you see it? The state of Virginia “loses” $2.5 billion a year to tax cuts and credits. When exactly did the state government make that money to lose? If I’m not mistaken, the people of Virginia made and own the money that the government takes in by taxes and fees. The state government of Virginia is in no position to say they’re losing anything. The mindset of big government, it’s ours and we’re just letting you use it until we take it.

The story goes on to say that outgoing Democratic Governor Tim Kaine has balanced the state budget through spending cuts. There’s a novel idea, and from a democratic governor no less. Try spending less, it works every time.

Incoming Governor Bob McDonnell is not likely to go for any type of tax increase, it’s what helped him get elected after all. The people of Virginia need to keep a sharp eye on Tim Kaine and the state legislature; they’re required by law to balance the budget. Virginia tax breaks may end up becoming a casualty of that budget.