Virginia leaders applaud Governor McAuliffe’s P3 reforms
Virginia elected officials, business leaders and advocates from across the Commonwealth released the following statements after Governor Terry McAuliffe’s announcement of a series of public-private partnership reforms.
Governor McAuliffe announced that he will offer legislation in the upcoming General Assembly session, making key reforms to the process the state uses to procure projects under the Public-Private Transportation Act. The reforms will increase transparency, minimize risk for taxpayers and draw clear lines of accountability.
Governor McAuliffe released his P3 reform plans in Alexandria, where he also announced that the 95 Express Lanes are opening early and on budget.
Delegate Chris Jones, Suffolk, Chairman of the House Appropriations Committee:
“P3 projects are an important and valuable tool that can help our Commonwealth build and maintain a 21st century transportation network. However, we have an obligation to act as responsible stewards of taxpayer dollars. I believe the P3 system must be reformed to strengthen accountability and improve transparency. The reforms proposed are a step toward accomplishing that goal without jeopardizing the ability of Virginia to execute P3 projects. Our first responsibility must always be Virginia taxpayers.”
Senator Walter Stosch, Henrico, Chairman of the Senate Finance Committee:
“I applaud the Governor for working diligently with the private sector to support the P3 program by restoring the public trust and improving public stewardship of transportation dollars. These reforms will focus future efforts on the original intent of the PPTA – transferring risk to the private sector and leveraging taxpayer funds.”
Philip Shucet, President, Philip A. Shucet Company:
“This mainstream proposal ensures the continuation of a great P3 program that serves the Commonwealth well. The private sector needs regulatory certainty and transparency to improve its working partnership with the Commonwealth of Virginia.”
Whittington Clement, Partner, Hunton & Williams:
“P3s are an important part of our transportation network. The private sector recognizes that in order for these projects to be successful, the interests of the taxpayer must be protected. The Governor’s reforms support this superb program by striking an excellent balance between private investment and public accountability.”
Jeffrey Southard, Executive Vice President, Virginia Transportation Construction Alliance:
“I support and applaud the Governor and Delegate Jones for this smart, pro-businesses proposal. These common sense reforms will bring certainty and clarity to the P3 process, while enhancing transparency and accountability.”