06/25/2009 GAAS:331:09 FOR IMMEDIATE RELEASE Print Version |
California Leads Nation With Over $1.5 Billion in Federal Obligations for Recovery Funds Designated for Transportation
Following Vice President Biden's announcement that all 55
U.S. states and territories have obligated 50 percent of their Recovery and
Reinvestment Act (Recovery Act) funding federally designated for highways by
the June 29 federal deadline, a milestone achieved in California more two months ahead of deadline,
Governor Arnold Schwarzenegger announced that California leads the nation in
attaining federal approval and commitment for this funding. To date, over $1.5
billion in Recovery Act funds have been federally approved and committed to 312
transportation projects throughout California - underscoring the state's focus
on pumping Recovery Act funding into the California economy as quickly,
efficiently, and responsibly as possible.
"California obligated half of its transportation stimulus
funds two months ahead of federal deadline - and we continue that pace today by
leading the nation in federal commitments," said Governor Schwarzenegger.
"Californians can be assured that we are exceeding federal deadlines and
working around the clock to stimulate the California economy through President
Obama's Recovery Act."
Recovery Act funding is designated for federally defined
purposes. California is expected to receive nearly $2.6 billion from the
Recovery Act for highways and local streets and $1 billion for transit
projects. Competitive programs within the Recovery Act could also provide
approximately $300 million in additional funding in this area. Additionally,
California expects to be very competitive in securing a portion of $8 billion
Recovery Act funding set aside federally for high-speed rail and intercity
rail.
For a list of the state and local transportation projects
with federal Recovery Act funding commitments to date please click
here.
** For questions regarding listed local projects, please
contact Caltrans at 916-654-5782.**
Governor Schwarzenegger
created the California Recovery Task Force to track the American Recovery and
Reinvestment Act funding coming into the state; work with President Barack
Obama's administration; help cities, counties, non-profits and others access
the available funding; ensure that the funding funneled through the state is
spent efficiently and effectively; and maintain a Web site that is frequently
and thoroughly updated for Californians to be able to track the stimulus
dollars.
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