On paper, the General Assembly passed a bill to raise taxes to fund transportation projects that is slated to bring in $880 million more a year in taxes, but the true cost to taxpayers is estimated to be "$1.13 billion per year in tax increases."
Regardless, it is by far the greatest tax increase in the history of the Commonwealth, surpassing the $442 million per year increase in 1986 and $680 million per year increase in 2004.
“This is a historic day in Virginia. We have worked together across party lines to find common ground and pass the first sustainable long-term transportation funding plan in 27 years," McDonnell, who also may have plans to run for president in 2016, said in a statement on Saturday. "There is a ‘Virginia Way’ of cooperation and problem solving, and we saw it work again today in Richmond."
Many conservatives in Virginia saw it as a "historic day" for other reasons. ( read the entire story here )
