According to the Virginia Gazette, the American Legislative Exchange Council (ALEC), a fiscally conservative lobbying group, ranked Virginia’s economy as the third best in the nation in its 2012 “Rich States, Poor States” report. Ranking criteria included individual and corporate income tax rates, the government’s debt as a share of tax revenue, and the state’s minimum wage. “I think states like Virginia provide states across the country with a great example that states can do great even in the midst of an economic downturn,” Jonathan Williams, ALEC’s director of tax and fiscal policy said.
