McDonnell addresses statewide transportation conference
McDonnell also talked up how he is on a significant transportation funding package for the upcoming General Assembly session that will eliminate the need to transfer road construction funds to maintenance by 2019, and put at least $500 million a year in new transportation funding into roads, bridges, transit and passenger rail.
The governor will roll out his formal policy proposal in the weeks ahead.
“Driving around the state, you can now see hundreds of projects underway to get people and freight in Virginia moving again. Many of these projects are being funded by our 2011 Transportation Funding Package, which set the framework for investing $4 billion over a three year period at a time when Virginia is seeing near historically low interest rates and construction costs. It is the most new funding for transportation in Virginia since 1986 and it happened through Republicans and Democrats working together. But our work is not done,” McDonnell said.
Speaking at the conference, McDonnell highlighted numerous positive steps underway to improve transportation infrastructure in the Commonwealth. As of August 2012, $14 billion worth of projects are now under construction, or in procurement throughout all parts of the Commonwealth.