Senate Majority Leader Harry Reid (D-Nev.) and Appropriations Committee Chairman Robert Byrd (D-W.V.) unveiled details of a $56.2 billion economic stimulus package. The package would include about $16 billion in infrastructure investment. It is uncertain at this time whether the Senate will consider the Democratic proposal. AGC supports the construction components of the stimulus bill.
Below are the highlights:
• Additional Highway Funding - The Committee bill includes $8 billion for highway investments. Funding from the general fund would be sent by formula to every State in order to improve deficient roads and bridges.
• Corps of Engineers - The second stimulus includes $500 million, of which $200 million is directed for the rehabilitation of Corps’ hydropower plants nearing the end of their design life. $100 million in funding is included for dredging of channels and to partially address the backlog of construction work at Corps of Engineers, flood control, environmental restoration, and navigation projects nationwide. An additional $200 million for the Corps will be used to fund work that can be immediately awarded to provide jobs in the construction industry across the country.
• Airport Investments - The Committee bill includes $400 million for capital improvements to airports across the country. These funds would support projects that are ready to begin construction immediately.
• The bill includes $600 million for the Environmental Protection Agency's (EPA) Clean Water State Revolving Fund, which provides funding to States for low-cost loans to make local sewer projects affordable.
• Rural Utilities & Community Facilities - The bill includes $200 million in budget authority that will support over $500 million in loans and grants for needed water and waste disposal facilities in remote rural areas.
• Public Transportation - The bill includes $2 billion for transit agencies to address capital and operating needs.
• Investing in Amtrak - The bill includes $350 million to fund capital projects along Amtrak’s corridors, including funding to rehabilitate inactive rolling stock.
