Business

Mapp Submits $1.278 Billion 2019 Budget To Legislature; $38 Million In Tax Refunds Included

ST. THOMAS -- Governor Kenneth E. Mapp submitted a proposed $1.278 billion budget Wednesday evening to the 32nd Legislature to fund the operations of the Government of the Virgin Islands (G.V.I.) for Fiscal Year 2019, which commences on October 1, 2018, Government House announced Thursday morning. In the budget proposal transmitted to Senate President Myron Jackson, G.V.I. operations will be funded by $851.34 million in local funds and $238.66 million in federal funds, and includes $150 million for debt service payments and $38 million for income tax refunds. “Fate has provided us with an opportunity to rebuild our beloved Virgin Islands stronger and better than before, while investing in our people,” Mr. Mapp said. “This can only be done by rebuilding efficiently, relentlessly and implementing sound fiscal policy. My administration is committed to seeing this process through to a historically successful conclusion and I look forward to working with the Legislature to achieve this goal...