Statement of Bob McDonnell on Allen-Goldman School Modernization Tax Credit Proposal

RICHMOND-Bob McDonnell, Republican gubernatorial nominee and former Attorney General of Virginia, issued the following statement regarding this morning’s New York Times op-ed by former Governor George Allen and Paul Goldman. In the op-ed the two called for a change in federal law that would allow private investors to receive a tax credit for rehabilitating old school facilities and leasing them back to school districts as modernized school buildings ready for use by Virginia’s students.

The op-ed can be found here: http://www.nytimes.com/2009/10/13/opinion/13allen.html

McDonnell Statement:

“I applaud Governor Allen and Paul Goldman for this innovative solution to help ensure that Virginia’s schoolchildren get the best possible education in the years ahead. By making a simple change in regulations at the federal level we can get outdated school buildings modernized and back in use. This kind of bipartisan proposal,promoting public-private partnerships that generate private investment in education infrastructure that improves education without a tax increase on Virginians, is exactly the kind of effort I will promote as governor. When it comes to the education of Virginia’s students we must work across party lines, embrace new ideas that work, and always focus on getting results. That is why I join with President Obama in calling for more charter schools and performance pay in Virginia. It is why I have proposed a plan to get 65% of education dollars into the classroom, leading to nearly half a billion dollars more for new textbooks, improved technology and higher teacher salaries, without a tax increase. This idea, to allow private investors to modernize an old school, and then lease it back to school districts for use, is one that I strongly support. Governor Allen and Paul Goldman deserve our thanks for advancing this positive solution, and I look forward to working with them over the next four years to get this change made, and more schools modernized and back in use so Virginia’s students will get the 21st century educations they need to compete in our competitive and constantly changing world.”