The House of Delegates leadership has announced a legislative package that would dedicate $50 million a year in state funds over 10 years in order to qualify for matching federal funds to upgrade METRO service to Northern Virginia.
According to a press release from the Speaker of the House, the package would dedicate the first $20 million annually of the existing tax on automobile insurance premiums to Metro, and increase the portion of recordation tax receipts directed to localities by an additional $60 million, which would mean an additional $30 million for Northern Virginia.
The funding, says the press release “will support the Metro’s 10-Year Capital Improvement Program, developed to adequately recapitalize the system and keep its assets in a state of good repair.” Legislators provided only the barest of details of what METRO improvements they have in mind.
“These funds will help preserve and expand the commuting options for the citizens of eastern Prince William,” said [Del. Jeffrey M. Frederick, R-Woodbridge]. “Hopefully, as Metro does more to eliminate waste and make their operations more efficient, this investment, combined with the federal match, will help bring Metro into the 21st Century and begin the process of expanding the system to Woodbridge and points south.”
The METRO website says that its $12.2 billion, 10-year capital improvement plan would replace depreciated assets, increase the length of trains from four/six cars to eight, and add 114 miles of rail in multiple projects.
