Congress approves $787 billion stimulus
U.S. Congress sent a $787 billion economic rescue package to President Obama late Friday after final approval by the Senate.
About two-thirds of the package is directed at government spending and the rest to tax cuts to get money circulating through the economy by direct cash aid and job creation.
The Senate bill passed 60 to 38, with the help of three moderate Republican senators.
The bill includes $27.5 billion for highway construction, most of which officials at the state level have said will go to repair and maintenance of existing roads and bridges, and $17.7 billion for transit and high-speed passenger rail projects. Another $1.5 billion is available in the form of competitive grants to states and local government for transportation projects.
The highway funding is less than half the amount of quick-start projects the American Association of State Highway and Transportation Officials said states could launch, and two-and-a-half times short of the amount the Transportation Department says is needed for near-term maintenance and upgrades.
Under the legislation’s rules, half of the money be spent on federally approved projects within 120 days.
The Airport Improvement program received $1.1 billion. The General Services Administration and Customs and Border Protection will share $720 million to improve facilities and processes at the nation’s land ports of entry. The Coast Guard will get $240 million to improve buildings and remove hazards to navigation.
A small portion, $300 million, is devoted for grants and loans to help states fund diesel-emission reduction projects such as subsidizing engine retrofits or establishing anti-idling programs. Another $150 million will go for port security grants.
President Obama is expected to sign the stimulus legislation on Tuesday.
Congress approves $787 billion stimulus
