Until we get a long-term highway transportation bill that provides for substantial investment in infrastructure, we can expect to be reading more articles such as the one from yesterday’s Richmond Times- Dispatch in Richmond, Va. The crux of the article is that the state will run out of money to build new roads in about five years, according to Transportation Secretary Sean T. Connaughton.
“By 2017 we will have no money left in construction,” Connaughton told the Virginia Chamber of Commerce’s newly established transportation committee. By law, road maintenance is the first priority for funding in Virginia and because or revenue shortfalls, money initially intended for new highway construction has to be used to cover critical road-maintenance needs. For the fiscal year that began July 1 the estimated transfer of funds from construction to maintenance was $447.8 million. The prior fiscal year it was $511 million.
State highway construction funds could run out in five years