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COMMENTARY
Virginia's robust economy has enabled the General Assembly to substantially increase funding for public education, mental health and public safety. With this plan, transportation joins those other core services in becoming a top priority - a development long overdue. It accomplishes this objective without enacting a general tax increase on all Virginians. First, the plan recognizes that localities need better tools to better manage growth and control sprawl. The proposed measures represent a clear, definitive break from Virginia's current land use policies. For the fastest growing areas of the state, the plan represents a long overdue modernization of the commonwealth's approach to local planning and road building. Legislation would devolve greater authority and control over roads within their boundaries to fast growing local governments that participate in the program. Obviously, land use reform alone cannot solve our transportation problems, but it is an important component in addressing Virginia's transportation needs.
Finally, by taking advantage of Virginia's AAA bond rating, the plan conservatively uses $2 billion in additional transportation funding statewide through general obligation bonds. This will jumpstart critical projects throughout the state. In addition, the plan allocates $339 million from the 2006 transportation reserve fund and dedicates 50 percent of the current and future budget surpluses to transportation. Those two measures represent $566 million in new transportation spending in this year's budget alone. Recognizing that Virginia's most acute transportation needs exist in northern Virginia and Hampton Roads, the plan properly places the primary financial burden on those localities. The plan allows local governments in those areas, by an affirmative vote of their governing body, the added flexibility of raising and retaining additional revenues for critical local road, rail and transit projects. If every eligible locality in the respective regions opted to participate in the plan, northern Virginia would garner an additional $383 million in additional transportation funding annually, while Hampton Roads would receive $209 million. This approach will enable those regions of the state to fund their needs without diverting road maintenance and construction funding from the metro Richmond region. No plan is perfect, but, on balance, this proposal represents the best opportunity we've seen over the last two years to enact a comprehensive package to control sprawl, reform VDOT and jumpstart critical road building projects. |
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