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Article: State road budget likely to shrink: ; Weak economy expected to depress tax revenue to Road Fund from new- car, gasoline sales
- Article from:
- Charleston Gazette
- Article date:
- December 9, 2008
- Author:
CopyrightCopyright 2008 Charleston Gazette. Provided by ProQuest LLC. (Hide copyright information)
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West Virginia's cash-strapped budget for building and keeping up
roads will probably get worse as the weak economy hits two key
sources of revenue for the state Road Fund, a West Virginia
University economist said Monday.
Tom Witt, director of the Bureau of Business and Economic
Research at WVU, told legislators Monday that highway funding will
grow more dire than the bureau had forecast in 2004 and 2007
studies.
In the short term, Witt said, people are likely to cut back on
travel and defer new car purchases - which, aside from federal
funding, are the two main funding sources for the state Road Fund.
A drop in miles traveled will affect state gasoline tax
collections, while fewer new car ...