The U.S. House of Representatives voted last week on a rule change that could affect the state’s plan to issue $1.1 billion of grant anticipation vehicle revenue bonds. The provision could allow lawmakers to divert transportation funds to other spending projects.
Part of Republican Gov. Robert McDonnell’s $4 billion in transportation funding includes $1.1 billion of Garvees for transportation projects. Rep. Bob Moran, D-Va., said the rule change “exposes the dangerous flaws in Bob McDonnell’s deficit-spending transportation plan.”