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.
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