08.21.2009
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| DOT Stimulus Payouts Top $1.7 Billion
DOT Stimulus Payouts Top $1.7 Billion Disbursements rise $243 million in latest week for transport infrastructure projects Quote:
The Department of Transportation paid out another $243 million for stimulus projects bills in the week ending Aug. 14, bringing the total it has spent so far to $1.737 billion.
That is part of a predicted escalation in DOT disbursements that saw weekly spending jump from the tens of millions of dollars earlier this summer to hundreds of millions in each recent week. In the Aug. 7 week, spending leaped by $347 million.
While the spending amounts are a much-watched indicator of how the Recovery Act is putting money into the economy, it also understates the stimulus impact at any one time. That’s because most of the payments take place after project work is done and states bill their federal accounts to pay contractors.
DOT said it has authorized project spending of more than $25 billion, out of $48 billion it will disburse over 2009 and 2010, and that thousands of those construction projects are under way right now across the country, to fix roads, bridges, airports, some freight railroads and even some trucking and barge port facilities.
more here>> DOT Stimulus Payouts Top $1.7 Billion
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