Pennsylvania Governor Rendell Tells Chester County Leaders More Transportation Investment Critical for Well Being of Route 202 Corridor |
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By: Pennsylvania Office of the Governor Posted: 2007-05-15 07:31:25 |
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Stable, dedicated funding for public transit and additional investment in highways and bridges will be critical to creating jobs and business opportunities along the Route 202 corridor, Governor Edward G. Rendell today told nearly 200 people at a meeting of the Transportation Management Association of Chester County.
"This region is one of Pennsylvania's success stories and good transportation is a big reason," the Governor said. "But the reality is we face a tough time paying for needed improvements and for the transit options the TMACC has helped to develop along the corridor." One of the region's top priorities is additional expansion of the Route 202 expressway between North Valley Road and the US 30 Exton Bypass. While PennDOT has started work on preliminary stages, funds have not yet been identified to complete the expansion to six lanes. Moreover, transit services the transportation management association has arranged for southern Chester County and the Coatesville and Parkesburg areas face funding shortages. These services are intended to connect people to the Veterans Administration Hospital, Lincoln University, shopping and recreational activities. "My message is simple and must be carried to your lawmakers," Governor Rendell said. "We must deal with transportation funding needs now." During his recent cross-state bus tour and at one of 16 news conferences held last week by mayors across the state on behalf of transit funding, the Governor delivered the message that safe, reliable transportation is vital to Pennsylvania's economic growth. Earlier this year, the Governor proposed two solutions to generate the additional $1.7 billion necessary to meet annual transportation needs identified by the bipartisan Transportation Funding and Reform Commission: -- Imposing a 6.17 percent tax on the skyrocketing profits of oil corporations to provide $760 million a year for public transit. -- Leveraging the value of the Turnpike to generate $965 million a year for highway and bridge repairs. Under Governor Rendell's proposal, a new 6.17 percent tax on the gross profits of oil corporations would generate $760 million for public transit each year. The tax would replace the 9.99 Corporate Net Income Tax imposed on oil corporations, but they no longer could shelter so much of their operations from state taxation. Currently, the seven corporations pay roughly $70 million a year in CNI tax. The Governor also proposed a plan to leverage the value of the Pennsylvania Turnpike to create an annual $965 million revenue stream for highway and bridge repairs. Morgan Stanley & Co., the state's consultant on the plan, expects to complete an analysis this month on recommended steps to secure maximum value in such a transaction. "If you are concerned about individual Pennsylvanians paying more at a time when gasoline prices are soaring, you have to take a hard look at what I have proposed that have the least economic impact on the driving public," the Governor said. "The alternative of losing transit services that help keep people in jobs and off public assistance and of hindering continued mobility gains along the Route 202 corridor is simply unacceptable." For more information about the transportation funding crisis and Governor Rendell's solutions, visit: http://www.Rideonpa.org. The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us. |
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