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Nearly $5 billion spent in DOT stimulus spending
Posted By Tina Grady Barbaccia On November 12, 2009 @ 1:23 pm In Economics,News & Analysis | No Comments
The Department of Transportation by Oct. 23 had approved $30 billion in project spending under the stimulus law, and cut checks totaling $4.85 billion, according to a report in the Journal of Commerce.
That payout level was up from $3.65 billion at the end of September, DOT said, and reflected weekly disbursements in the range of $300 million, the JOC reports.
Most of DOT’s stimulus spending is through the Federal Highway Administration, which last week said its total for approved projects topped $20 billion, according to the report. This money represents more than 75 percent of the $26.6 billion set aside under the American Recovery and Reinvestment Act for spending on quick-start highway and bridge projects, according to the report.
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