News

Stimulus Funding Details Released

Congress is poised to complete action on economic stimulus legislation, HR 1, The American Recovery and Reinvestment Act of 2009. The House passed the bill 246-183 earlier today and the Senate is scheduled to vote tonight. All three GOP Senators who voted for the Senate version of the bill (Specter, Snowe and Collins) have pledged to vote for final passage. The Act includes a total of $787.2 billion in spending and tax cuts. The bill includes $47.8 billion in transportation funding as follows:
  • $27.5 billion for high & bridge formula funding
  • $1.5 billion for discretionary competitive grant program for surface transportation
  • $8.4 billion public transportation
  • $850 million Amtrak capital grants
  • $450 million Amtrak security upgrades
  • $8 billion for construction of high speed and intercity rail projects
  • $1.1 billion Airport Improvement Grants
The House Transportation and Infrastructure Committee provided the attached chart which shows a state by state and metropolitan area breakdown of the highway, transit and clean water state revolving funds included in the bill. There are numerous tax provisions to encourage development, capital investment, and increasing certain bonding opportunities on public buildings, schools and other public works.  The attached chart provides an overview of the specific tax provisions that AGC has worked to have included in this bill.  A top AGC objective has been full repeal of the 3% withholding on contractor payments by public agencies. AGC was successful in having a one year delay included in this bill and will continue to work for total repeal. AGC was also successful in having a House bill requirement removed from the final bill that would have only allowed companies that use E-verify to be eligible to compete for projects funded under the bill.