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Rail News Home Financials

6/22/2015



Rail News: Financials

Virginia transportation board OKs $13.3 billion, six-year improvement program


Virginia's Commonwealth Transportation Board (CTB) late last week approved a six-year improvement program that will provide $13.3 billion for various transportation projects throughout the state.

Of that total, $3.4 billion will be set aside for rail and public transportation projects, CTB officials said in a press release. The program will support nearly 3,000 transportation projects in Virginia.

Meanwhile, the board also approved a $5.29 billion fiscal-year 2016 budget for the Virginia Department of Transportation (VDOT), up 21 percent versus the previous fiscal year.

CTB officials cited planned bond allocations, anticipated local and regional funding for VDOT projects, and additional revenue from increased gasoline sales tax as reasons for the budget increase.



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