Virginia Gov. Outlines $4 Billion Expenditure on Roads
December 10, 2010
Gov. McDonnell's plan to accelerate borrowing for a proposed $4 billion in road projects. Source: Richmond Times Dispatch
Richmond Times Dispatch, December 10, 2010
Reference: http://www2.timesdispatch.com/news/news/2010/dec/10/tdmain01-mcdonnell-seeks-4-billion-for-roads-ar-706528/
McDonnell outlines $4 billion road plan
Largely through accelerated borrowing, Gov. Bob McDonnell is proposing to funnel $4 billion to road projects by the end of his administration.
He rolled out pieces of his transportation plan Thursday at the Governor's Transportation Conference in Roanoke in stressing the need to jump-start road projects in this economy.
"I want to make clear: Right now is the best time in modern Virginia history to get new roads and bridges built," McDonnell said. "First, construction prices have fallen dramatically due to competition and the state of the economy. Second, interest rates are at historic lows for our triple-A bond-rated state."
