Dear Editor,
In the Jan. 10th editorial,
”
Look Mom, Its $2 Billion,
”
the refers to VTA’s projection of an additional $2 billion in
sales tax revenue as a
”
sudden and suspicious discovery.
”
To clarify, VTA has been working with the Center for Continuing
Study of the California Economy (CCSCE), specializing in long-term
economic projections and analysis, since 2002. In three of the past
four years, CCSCE’s forecasts for VTA have been accurate to within
one tenth of a percent.
Dear Editor,
In the Jan. 10th editorial, “Look Mom, Its $2 Billion,” the refers to VTA’s projection of an additional $2 billion in sales tax revenue as a “sudden and suspicious discovery.” To clarify, VTA has been working with the Center for Continuing Study of the California Economy (CCSCE), specializing in long-term economic projections and analysis, since 2002. In three of the past four years, CCSCE’s forecasts for VTA have been accurate to within one tenth of a percent.
In November 2005, CCSCE presented VTA their annual report on sales tax projections for 2008-2015. These new projections and actual recent increases in sales tax receipts, impact three existing VTA revenue sources and one proposed, resulting in the anticipated $2 billion sales tax revenue increase over 30 years. The editorial also states that VTA is assuming a 7 percent sales tax growth. In actuality, VTA sales tax forecasts, in our proposed 30-year expenditure plan, assumes an average 5 percent annual growth.
Lastly, the 2000 voter-approved Measure A Program is restricted to specific public transportation projects and improvements such as the BART to San Jose extension and Caltrain improvements. It is not accurate to suggest that these program funds could be used for a new highway 152 connecting to U.S. 101.
VTA has an excellent record for project delivery as demonstrated in the near completion of all projects in the 1996 Measure B Transportation Improvement Program. We are committed to delivering transportation solutions that enhance the quality of life for residents throughout Santa Clara County.
Michael T. Burns
General Manager, Santa Clara VTA
