"Road to the Future" bill signed into law in Virginia
By Eric Veram
RICHMOND, Virginia: On Monday, May 13, Gov. Robert McDonnell signed sweeping transportation funding reform into law. The so called "Road to the Future" bill is estimated by supporters to generate $1.4 billion a year for the state's roads, highways, and railroads. Notably, the bill makes revisions to Virginia's gas tax laws. It replaces the current 17.5 cents-per-gallon retail gasoline tax with a 3.5 percent wholesale tax on gasoline and a 6 percent levy on diesel fuel. The bill also raises the state sales tax form 5 percent to 5.3 percent. During the bill's signing, Governor McDonnell said, "This bill is crucial to the future growth of Virginia’s economy, and this is a great day for job-creation in the commonwealth."