RTD Will Receive $232M From Federal Government Stimulus Package
DENVER (CBS4) - RTD announced on Thursday they will get more than $232 million from the federal government. The money comes as part of the CARES Act, the record stimulus bill passed by Congress last week.
RTD will receive $232,253,946 from the Coronavirus Aid, Relief, and Economic Security Act. President Donald Trump signed that bill into law on March 27.
The funds can be used to cover salaries, personal protective equipment, cleaning supplies and other expenditures from Jan. 1, 2020 onward, with a request from the government that it be used as soon as possible. The money is qualified as a reimbursement, meaning RTD will spend money on necessities and the aid money will be refunded to them.
"We owe a big thank you to our Congressional delegation, our FTA partners, our peers from APTA who lobbied hard for these funds, and our federal boots-on-the-ground in Washington – our partners from Squire Patton Boggs. We appreciate everyone's hard work. These funds will help us in a big way as we navigate the COVID-19 crisis," Paul Ballard, RTD's interim General Manager and CEO, said in a news release.
RELATED: Latest Updates On The Coronavirus Outbreak In Colorado
