“Transportation Funding and Major Projects Update”
The Honorable Shannon Valentine, Virginia Secretary of Transportation
Following passage of interstate funding legislation in 2019, the 2020 General Assembly passed legislation to address declining revenues from the gas tax and to provide additional funding for transportation projects across the Commonwealth. Then the pandemic hit. Big drops in fuel and sales tax collections created a $121 million shortfall in the last fiscal year and a $750 million shortfall is projected for the next two years. Secretary of Transportation Shannon Valentine will update us on the impact of the pandemic on future transportation revenues and the status of major projects across the state.
