A multi-billion-dollar budget shortfall could cut transportation projects short, limit transit options, and raise parking prices, according to a new proposal from the Maryland Department of Transportation.

The six-year transportation plan includes at least a $2 billion funding shortfall, and the proposed cuts could impact a large swath of services and plans. According to the proposal from MDOT, the agency must seek a $3.3 billion reduction in planned state Transportation Trust Fund expenditures over the next six years.

“Simply put, the department’s operating costs are expected to increase seven percent annually while our revenues increase one percent per year,” said MDOT Secretary Paul Wiedefeld in a letter. “And just like Maryland families are doing, we must tighten our belt to live within our resources.”

Secretary Wiedefeld said the cause of the deficit is rising costs and declining revenue. According to the proposal – which isn’t finalized – MDOT plans to reduce operating spending and increase several fees; the agency is calling for an 8% cut to operating budgets for each agency within the department.... Read More: FOX45