Well the stimulus package was finally passed through congress and signed into legislation two weeks ago. I wanted to write a short blurb outlining the break down of the bill. Here’s how all that money will be allocated:
- $27.5 billion to highway funding (some of which is already being put to use).
- $9.3 billion for Amtrack and high speed rail.
- $6.9 billion for the Federal Transit Administration.
- $400 million for transportation electrification (can include anti-idle projecdts at truck stops).
- $300 million for grants to fleets to retrofit or replace older trucks to reduce diesel emissions.
- $520 million for border-crossing construction and Customs screening equipment.
- $142 million for the U.S. Coast Guard to alter bridges.
Some fleet owners are optimistic the additional construction projects will translate into increase trucking business in materials transportation. There was however some concern from the American Trucking Association that going forward those non-contributors benefitted by this stimulus wouldn’t be seeking additional funds from the Highway Trust Fund money. Individual states still have to put forth their proposals for obtaining their share and will also be responsible for dispersing the funds within their respective states. Now let’s wait and see what happens.