January 24, 2013
The governor’s proposal to address Virginia’s transportation crisis has two major flaws under its hood. It derives more than two-thirds of its revenue from sources that are tentative, at best. And, even assuming the plan is approved as the governor envisions, it falls far short of what Virginia needs to repair and maintain existing roads, bridges and other infrastructure that businesses rely on to get their goods to market and that commuters need to get to work, school and other places.
- More than 60 percent of the funding comes from two sources that face extremely uncertain political futures
- Even if the proposal were to pass, the estimated revenue falls over $800 million short of VDOT’s two-year need. Take out the uncertain revenue, and the proposal would cover just 21 percent of the funding VDOT estimates it needs over the next two years.
The complete report is available here.