The overall taxes and government disbursements highway funds.
New Bill Adds Clarity to ARRA Funding
Published Thursday, September 24th, 2009
A new Highway Bill Reauthorization making its way through Congress seeks to add order to chaos by clarifying the massive $135 billion in funding that came with the American Recovery and Reinvestment Act. The Chief Economist of the Associated General Contractors of America (AGC) states that 50% of the money for projects must be earmarked or obligated within six months or else states lose the funding. The stipulation is intended to force states to identify projects quickly that are eligible for job creation and economic stimulus.
The ARRA provided $48 billion for transportation investments: $27.5 billion for highways; $8.4 billion for public transportation; $9.3 billion for passenger rail; and $1.3 billion for airport infrastructure. Of the bill’s highway funds, roughly $18 billion provides funds directly to states, and half of these funds had to be earmarked in 120 days. The remaining $9 billion in state funds and the $8 billion given to local governments must be earmarked within one year of the bill’s enactment. States and localities that do not meet these deadlines will have their funds redistributed to other states.
U.S. Department of Transportation - http://www.dot.gov/
Serve the United States by ensuring a fast, safe, efficient, accessible and convenient transportation system that meets our vital national interests and enhances the quality of life of the American people, today and into the future.
National Safety Council - http://www.nsc.org/
The National Safety Council is a nonprofit, nongovernmental, public service organization dedicated to protecting life and promoting health. The NSC is a membership organization, founded in 1913 and chartered by the U.S. Congress in 1953. Members include more than 48,000 businesses, labor organizations, schools, public agencies, private groups and individuals.