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Federal Transit Administration Beats Obligation Deadline 09-16-09 | News

Federal Transit Administration Beats Obligation Deadline

Let's not forget the track and bridge repair, new rail cars and locomotives, and new signal systems that are so vital to our nation's rail transit systems, wrote FTA Administrator Peter Rogoff.
Courtesy of Ridge Engineering

The Federal Transit Administration has awarded 88 percent of its American Recovery and Reinvestment Act formula funds, well surpassing the mandate that at least 50 percent of the money be obligated by Sept. 1.

Money has been issued to nearly 600 transit agencies across the nation for a total of $6.7 billion out of the $7.5 billion Congress appropriated in the recovery act for formula grants.

"I couldn't be more encouraged as I reflect on how those funds are being put to use rebuilding our nation's transit infrastructure, creating good jobs around the country, improving the environment, and reducing America's dependence on foreign oil," FTA Administrator Peter Rogoff wrote in a recent blog entry.

The $6.7 billion obligated thus far is supporting nearly 73,000 jobs and enhancing transit service, wrote Rogoff.

Courtesy of AASHTO