Wednesday, January 9, 2013
Governor's five-year, $3.1 billion transportation overhaul aims to fund major road and infrastructure needs. Tell us: Do you think the governor's plan is a sustainable option for road maintenance and new projects?
Virginia residents could see a higher sales tax — and the state could become the first in the country to shed its gas tax — if a transportation plan unveiled by Virginia Gov. Bob McDonnell passes the state's General Assembly during its 2013 session. The five-year, $3.1 billion transportation overhaul is the governor's attempt to address some of the state's major road and infrastructure needs in coming years; $14 billion in projects are already underway across Virginia. McDonnell said the 17.5 cent tax on gasoline — which accounts for more than 30 percent of Virginia's transportation revenues — was "dated," blaming inflation and better mileage on the dollar for making it a stagnant funding source. Raising sales tax from 5 to 5.8 percent, …
Tuesday, December 4, 2012
Virginia's gas tax is a flat rate tax, but are changes coming down the pike?
Next year’s holiday road trip over the river and through the woods may be a little more expensive as Virginia officials grapple with how to adequately fund Virginia’s growing transportation infrastructure needs. The CEO of the state, Gov. Bob McDonnell, said in November that raising Virginia’s gas tax, tying it to inflation or otherwise adjusting it is not off the table. “I’m looking at a range of things,” McDonnell told reporters in Richmond. “I can tell you that every other major tax in Virginia—the sales tax, the corporate income tax, and the [personal] income tax—all fluctuate with economic activity because they’re a percentage. ... We’re looking at whether or not ... it should fluctuate with economic activity, like every other tax in …
Thursday, November 29, 2012
Virginia's gas tax is a flat rate tax, but changes could be in the making.
Next year’s Thanksgiving road trip may be a little more expensive as Virginia officials grapple with how to adequately fund Virginia’s growing transportation infrastructure needs. Gov. Bob McDonnell said earlier this month that raising Virginia’s gas tax, tying it to inflation or otherwise adjusting it is not off the table. “I’m looking at a range of things,” McDonnell told reporters in Richmond. “I can tell you that every other major tax in Virginia—the sales tax, the corporate income tax, and the [personal] income tax—all fluctuate with economic activity because they’re a percentage. ... We’re looking at whether or not ... it should fluctuate with economic activity, like every other tax in Virginia.” Right now, Virginia’s state gas tax …
dawn auletta
1:02 pm on Friday, February 1, 2013
Gov. Bob McDonnell’s (R-VA) transportation bill passed the House of Delegates Finance Committee, moving past its first hurdle in the state’s 2013 General Assembly session. In a 14-8 vote along party lines, the committee passed McDonnell’s package, which calls for eliminating the state’s 17.5 cents per gallon gas tax and raising the state sales tax from 5% to 5.8%. more ›