As the special transportation session of the General Assembly draws nigh, the House Republican leadership has thrown out some new ideas regarding transportation funding. One of them deserves serious consideration. The other one is dangerous: a potential blank check for the political class.
Del. G. Glenn Oder, R-Newport News, announced Friday that he had introduced legislation to create a “constitutional lock-box” for the Transportation Trust Fund. This idea, backed by Gov. Timothy M. Kaine early in his administration, would protect dedicated transportation from revenue razzias to fund other programs. Politically, a constitutional lockbox is mandatory to induce voters to support tax increases for transportation construction. Without such a guarantee, only the most naive would trust the politicians to honor a commitment to leave the funds alone.
Said Oder in a press release: “It is time to put ‘trust’ back into the Transportation Trust Fund. This constitutional amendment provides a guarantee to the citizens of Virginia that money dedicated to transportation will be spent on transportation. To prevent similar diversions and raids, we approved a constitutional amendment to protect funds for education raised through the State Lottery. We should protect transportation dollars as well.”
Oder’s legislation is backed by the House Republican leadership, including Speaker William J. Howell, R-Stafford. Said Howell: “The people of Virginia have every right to expect that moneys dedicated for transportation will, in fact, go to transportation.”
Right on!
While Howell’s logic is impeccable in that instance, he floated a stinker last week when discussing how to address the transportation needs of Hampton Roads. In an interview with the Daily Press, Howell suggested leasing the long-term tolling rights for Hampton Roads bridges and tunnels in return for up-front payments in cash.
“You can’t raise taxes enough to build all of those things,” Howell said of the region’s list of seven major transportation projects, which includes expanding the Hampton Roads Bridge-Tunnel, reports the Daily Press’ Kimball Payne. “Looking at tolls and concessions is the only way you’re going to solve Hampton Roads’ problems.”
The problem with the transportation projects favored by the political class of Hampton Roads is they are largely for the benefit of the port and maritime interests, and to some extent development interests. By leasing off bridge and tunnel concessions and hiking tolls to pay for those projects, Howell’s proposal would represent a multibillion-dollar transfer of wealth from the general citizenry to the port/maritime/development sectors of the business community.
I’m all in favor of finding creative ways to build the new transportation capacity needed to expand the ports — as long as the projects can pay their own way, and as long as private interests shoulder the risk that revenue projections might not materialize. Toll the trucks. Tax the containers. Create Community Development Authorities to develop industrial real estate along the expanded highways and use the proceeds to issue bonds. Privatize the Virginia Port Authority. But don’t tax or toll already overtaxed citizens for something that benefits them only indirectly if at all.