Why the Transportation Budget Shortfall?
You might wonder why funding for something as basic as the safety of Virginia’s roads and highways is taking such an enormous hit. It all comes back to the economy, and many of the same forces that are impacting grocery and gas prices across the country. So far this year gas tax revenue is down 12%, as Virginians are shying away from using gas now that prices have topped $4 a gallon. In addition, a struggling economy means that residents are shopping less, and that means a shortfall in sales tax revenues. In addition, prices are up for more than just Virginia residents – construction costs are also up, which means that projects that have been planned for years now cost much more than originally thought. Finally, Virginia’s constitution calls for maintenance work to be taken care of before new construction projects. However, with the huge budget shortfall there won’t be much, if anything, left after basic maintenance is taken care of. Transportation Projects We Need – But Won’t Get Offi
