Virginia's Warner Urges Passage of $824M in Transportation Funds

Vadum, Matthew
January 2005
Bond Buyer;1/14/2005, Vol. 351 Issue 32050, p3
Trade Publication
The article reports that Virginia Governor Mark R. Warner urged lawmakers at the opening of the General Assembly's annual legislative session to approve his proposal to add 824 million dollar in one-time funding for state road and public transit projects to the current two-year, 60 billion dollar budget. U.S. House Appropriations Committee chairman Vincent F. Callahan Jr. said earlier this week that in its current form his plan calls for the issuance of about 675 million dollar in transportation revenue bonds, but he stressed that the final amount could change. The plans from both lawmakers would raise some of the funds by tapping into insurance premium tax collections. Senate leaders are also expected to propose a separate transportation package but it is not yet clear if the plan will include bonds.


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