$48.8B in highway funds ready

The U.S. Department of Transportation today, April 21, announced $48.8 billion in highway funds is available to state departments of transportation for federal projects through the Hiring Incentives to Restore Employment (HIRE) Act.

“With spring and summer highway construction seasons just beginning, these funds will help make it easier for states to put people back to work and begin long-term projects,” said Secretary Ray LaHood.

The HIRE Act, which was signed into law last month, included a provision that extended funding authority for surface transportation programs through Dec. 31. The law provides $40.1 billion from the Highway Trust Fund for highway programs for FY 2010.

In addition, the HIRE Act restores $8.7 billion to state DOTs that was rescinded last year due to a provision in the “Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users” (SAFETEA-LU), surface transportation program authorizing legislation enacted in 2005.

SAFETEA-LU expired Sept. 30, and since then, Congress has passed a series of small, short-term funding extensions based on SAFETEA-LU.