The waiting went on and on as anxious construction industry and state officials watched for months for glimmers of progress in Washington on a bill that they hoped would ease the recession’s tightening grip. On Feb. 17, the long wait ended as President Obama traveled to Denver and signed what he called “the most sweeping economic recovery package in our history,” the $787.2-billion American Recovery and Reinvestment Act of 2009. It was good news for construction, because the measure contains about $130 billion for highways, buildings and other public works. “How can you not be happy?” asks Stephen E. Sandherr, the Associated General Contractors’ CEO. “This is the most significant investment in infrastructure in my lifetime.”
As industry officials scrutinize the voluminous bill, they are looking for how much money it allocates for key programs and for details on how and when the funds will be disbursed…See the rest of the original story
Here is the part I found most applicable to your industry,
HOW THE FINAL PACKAGE STACKS UP FOR CONSTRUCTION
TRANSPORTATION [$49.3 billion]
Highways: $27.5 billion
Transit: $8.4 billion
New discretionary grant program: $1.5 billion for highways, transit, rail, seaports, other projects. U.S. Dept. of Transportation will choose which projects will be funded.
Airport Improvement Program construction grants: $1.1 billion
Rail: $9.3 billion, including $1.3 billion for Amtrak, $8 billion for high-speed rail
Fixing a looming problem in the Highway Trust Fund--at least for now--President Obama has signed legislation providing a $7-billion infusion for the trust fund's highway account. The additional money, which will be transferred from the general fund, is expected to keep the account solvent through Sept. 30 or perhaps a bit longer.