Virginia Senate panel has killed a bill that would have
raised more money for transportation projects.
bill was the last major road-funding proposal before the
General Assembly this year to improve the state’s transportation
approved by the House of Delegates, would have allowed
the state to borrow up to $1 billion over four years for
road and transit projects statewide, The Virginian-Pilot reported.
The debt would have been repaid with revenue from a state
tax on vehicle insurance premiums.
Finance Committee members said it would have added to the
state’s debt at a time when Virginia is trying to correct
a $1.2 billion imbalance in its two-year, $50 billion budget.