Funding for transportation projects is projected to drop by $15 billion next year as stimulus bill monies are spent out. An analysis from Associated General Contractors of America said funding for 2010 was only expected to reach $63.4, down 19.3 percent from this year’ $78.6 billion.
The main difference comes from a lesser amount of stimulus funding that remains for next year. Stimulus spending for 2009 added $27.6 billion to the regular transportation funding of $51 billion. However, the stimulus remainder to be added next year is only $9.8 billion.
More than 430,000 construction jobs could be lost from the reduction, the association said, negating this year’s job gains with an “underinvestment in our roads, bridges and transit systems.”
Regular transportation spending levels aren’t expected to increase, since the surface transportation bill expired in September, and Congress has yet to pass a replacement bill.