February 18, 2009 9:46 AM
- Text
Billions of Stimulus Funds Will Go to Transportation
(MoneyWatch) The federal stimulus plan has plenty of funds for everyone, but what exactly will it bring to the world of aviation, and transportation in general? A fair amount, actually. There are billions of dollars in the stimulus earmarked for transportation.
Here are the ones that I picked out from the list. I've also added a little more detail from AviationNews.net. Let me know if I missed anything.
Here are the ones that I picked out from the list. I've also added a little more detail from AviationNews.net. Let me know if I missed anything.
- $1.1 billion for airport improvement projects - These are for projects that can move quickly. Fifty percent of the funds are to be distributed within 120 days, and projects that can be completed within two years get priority. This means it will apply to airports that already have projects ready to go. Locally for me, a good example (I'd imagine) would be the new parking garage at Long Beach Airport that isn't yet funded but is necessary since the current remote lot is owned by a private party and may be redeveloped.
- Within 45 days, there has to be a plan to spend $1 billion for purchasing explosives detection devices at airports. The airports facing the biggest threats get priority.
- Another couple hundred million will be spent on air traffic control band-aids. The bigger, more expensive modernization project will have to wait, but at least they can patch up some of the things that need fixing right away, like power systems and airport lighting.
- There are plenty of earmarks for other modes of transportation. Amtrak gets $1.3 billion, high speed rail gets $8 billion, highways get $29 billion, and public transit gets $8.4 billion.
Latest Now in MoneyWatch
- Foreclosure pact: Enough help for homeowners?
- EU: Greece must cut deeper to get bailout
- Big banks, gov't officials strike $25B deal
- LinkedIn swings back to profit
- LinkedIn doubles revenue, beats growth estimates
- Kodak to stop making digital cameras, frames
- Market cap, schmarket cap, Apple still gets no respect
- Philip Morris Int'l income up nearly 8 percent
- Survey: Small biz plans big hires in 2012
- Freddie Mac: Mortgages inch higher but stay low
- Will the European debt crisis sink Obama's re-election?
- Banks in $25B deal to settle foreclosure abuses
- Joe Coffee: Scaling up without selling your soul
- Greek agreement accomplishes nothing
- 401K plans: New rules make costs clearer
- Are women leaders selling themselves short?
- Ask the Experts: New 401(k) rules
Latest CBS News Headlines
on Facebook
on CBS News
- India, EU hope to reach free trade pact this year
- Poll shows Poland's ruling party losing support
- Foreclosure pact: Enough help for homeowners?
- Greece on strike as bailout deal in limbo
on Facebook
- Tenn. father charged with murdering couple who"unfriended" daughter on Facebook
- "Person to Person" with George Clooney
- Adele opens up about vocal cord surgery
on CBS News






