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Thomas Jefferson Institute

Thomas Jefferson Institute

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Published by Kenric Ward
Transportation Plan
Transportation Plan

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Published by: Kenric Ward on Feb 11, 2013
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10/13/2014

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A Transportation Funding Plan for Maintenance:
“A Friendly Amendment” by the Jefferson Institute
 
 by: Michael W. Thompson February 2013
 
 
Thomas Jefferson Institute for Public Policy
The Thomas Jefferson Institute for Public Policy is a non-partisan research and education organization devoted to improving the lives of the people in Virginia. The Institute was organized in 1996, and was the only state and local government focused public policy foundation in Virginia based on a philosophy of
limited government, free enterprise and individual responsibility. It is a “solutions tank” seeking better ways to accomplish the policies and programs curren
tly being undertaken by state and local government
 – 
 
always based on the Institute’s
underlying philosophy. The first study was published in February 1997. The work of the Thomas Jefferson Institute for Public Policy is geared toward educating our political, business and community leadership about the issues facing our society here in Virginia. The Institute offers creative solutions to these  problems in a non-partisan manner. The Thomas Jefferson Institute is a fully approved foundation by the Internal Revenue Service. It is designated a 501 ( c ) 3 organization and contributions are tax-deductible under the law. Individuals, corporations, associations and foundations are invited to contribute to the Thomas Jefferson Institute and  participate in our programs. For more information on the programs and publications of the Thomas Jefferson Institute, please contact:
Thomas Jefferson Institute for Public Policy 9035 Golden Sunset Lane Springfield, Virginia 22153 703/440-9447 email: info@thomasjeffersoninst.org  website: www.thomasjeffersoninst.org 
This paper, “A Transportation Funding Plan for Maintenance: A Friendly Amendment by the
Jef 
ferson Institute” is published by the Thomas Jefferson Institute for Public Policy. This paper
does not necessarily reflect the views of the Thomas Jefferson Institute or its Board of Directors.  Nothing in this study should be construed as an attempt to hinder or aid any specific legislation.
 
 
Transportation Funding Plan for Maintenance:
“A Friendly Amendment” by the Thomas Jefferson Institute
 
Executive Summary:
The Thomas Jefferson Institute applauds the Governor for making transportation the key
issue of this year’s General Assembly session. It is long past time for Virginia to face up to its
transportation needs and to figure out how to resolve them. This paper analyzes the
Governor’s plan as it stands today
 in the General Assembly and
offers a “friendly amendment” focused solely on the maintenance issue. The economic analysis
was completed using our STAMP (State Tax Analysis Modeling Program) model developed by the respected economic team at the Beacon Hill Institute located at Suffolk University in Boston.
The economic analysis of the Governor’s Plan shows these results:
 
The Governor’s Plan
:
 
Private employment increases by 3,700 jobs
 
Investment increases by $23 million
 
Real disposable income deceases by $1.04 billion After seeing these results, the Jefferson Institute crafted its own plan that would increase the gas tax by 20 percent the first year and then annually
index the gas tax to inflation and “off 
-
set” that increase by indexing the state i
ncome tax brackets to inflation and making these two elements clearly
“revenue neutral.” The economic results of the Jefferson Institute
 plan are
significantly better than those of the Governor’s Plan:
Jefferson Institute’s Plan
:.
 
Private employment increases by 14,950 jobs
 
Investment increases by $80 million
 
Real disposable income increases by $782 million The Jefferson Institute urges the General Assembly to consider zeroing in only on the maintenance issue which is the most important element in our transportation dilemma today. Solving this problem will be a huge legacy for our Governor. Then the upcoming gubernatorial campaign can focus on how to build new roads and expand mass transit. This paper also suggests two other actions that the General Assembly could take to open
up significant additional monies for Virginia’s transportation needs
: re-passing that part of
“3202” that gave authority to raise taxes and fees to locally elected bodies; and urging Congress
to block grant to Virginia our federal transportation funds thus reducing construction costs. The Thomas Jefferson Institute for Public Policy joins with many other groups in praising
our Governor for making transportation the signature issue in this year’s General Assembly. We
ask t
hat our idea be considered as a “friendly amendment” so that the maintenance piece of his
 proposal will have a much larger economic benefit to our state.

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