RICHMOND, Va. -- Virginia's highway revenues are expected to decrease up to $2.6 billion over the next six years, the state's top transportation official said.
Secretary of Transportation Pierce Homer delivered the grim financial news to the Commonwealth Transportation Board on Wednesday. The reductions are on top of a $1.1 billion cut in the state's six-year highway improvement plan in June.
The declines are caused by the weak national economy and lower tax collections on gasoline and new cars.
The Virginia Department of Transportation plans to close some offices and trim several hundred jobs.
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