Thursday, March 18, 2010

HIRE ACT SIGNED INTO LAW

Today President Obama signed the HIRE Act into law, which includes a long-term extension for the surface transportation program through December 31, 2010.The HIRE ACT will also transfer $19.5 billion into the Highway Trust fund to ensure that it remains solvent during that period. This includes $4.8 billion that will be transferred to the Mass Transit Account. The Federal Transit Administration (FTA) will now be able to allocate the remaining 58 percent of formula funds appropriated for FY 2010.

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