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Oct 26, 2010

INSFRASTRUCTURE FUNDS * USA - DOT Stimulus Payouts Top $21 Billion

Department sends $1.5 billion to reimburse states in latest four weeks


Washington,DC,USA -The Journal of Commerce Online, by John D. Boyd -Oct 25, 2010: -- Stimulus spending by the Department of Transportation reached $21.2 billion as of Oct. 15, as the DOT sent states more than $1.5 billion in reimbursements for transport project costs in the four weeks since Sept. 17... The figures on the Recovery.gov Web site indicate the DOT is paying out its stimulus money at a pace of nearly $400 million a week. Under the American Recovery and Reinvestment Act, states cover initial costs for projects once they receive firm backing from the DOT, which later releases the money after confirming the work was done... The DOT has so far made available about $39.7 billion of the $48.1 billion it will pay out under the stimulus measure. Most of it goes to road and bridge projects under the Federal Highway Administration, plus transit, airport and special project grants...

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