WASHINGTON — Virginia is poised to enact a funding bill that raises sales taxes but slashes fuel taxes to create $200 million of new transportation revenue each year that could be used to support bonding.

The plan is the result of a compromise between Republican Gov. Bob McDonnell’s unique overhaul proposal, which included a complete elimination of Virginia’s gas tax, and a state Senate proposal that included a tax increase. Though the GOP-controlled House passed McDonnell’s plan two weeks ago, it twice failed to gain support in the evenly-split Senate.

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