***Trasportation Compromise Reached by Virginia Legislature
January 19, 2007
AP-Republican legislators announced a compromise transportation reform package Thursday, January 18, that includes nearly $1.4 billion yearly in state and regional funds and $2 billion in debt.
Funds will come from:
Last year's earmark for roads, rails & transit-$339 milliion
From the General Fund, $250 million
Half the the General Fund surplus in a year for transportation
Impose harsh fees estimated to be worth $61 million on abusive drivers.
Boost the per-gallon tax on diesel fuel from 16 cents to 17.5 cents, generating $20 million
Raise $30 million from higher penalties and registration fees on overweight trucks.
Increase the cost of registering a car in Virginia by $10
Road bonds totaling $1.3 billion from 2008-2012 and $700 million in bonds after that.
Source: Martinsville Bulletin, January 19, 2007
