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Obama's Administration * USA - Plans $50 Billion for Transport
President to develop details of jobs program with Congress
Washington,DC,USA -The Journal of Commerce Online, by John D. Boyd -Dec 8, 2009: -- President Obama’s multi-layered jobs plan includes spending around $50 billion in additional funds on transportation infrastructure programs, with the goal of obligating that money to specific projects within the next year... Earlier this year, the American Recovery and Reinvestment Act set aside $48 billion for the Department of Transportation to spend. Most of it goes into highway and bridge projects, plus airport repairs and yet-to-be-awarded funds for high-speed passenger rail and grants for projects of special importance. DOT has so far paid out less than $7 billion but has obligated over $31 billion... The project spending would again include highways, transit, rail, aviation and water transport systems. One said it would also set aside “a significant amount” for “merit-based” construction such as intermodal projects that draw in investments from other parties as well...
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