TSXV:VMC - Post Discussion
Post by
Pandora on Nov 16, 2021 6:08pm
U.S. Infrastructure Bill passed and signed by the President
Following the signing of the BID, the U.S. Department of Transportation's Federal Transit Administration announced key priorities and historic funding amounts for public transportation.
The BID authorizes up to $108 billion, including $91 billion in guaranteed funding for public transportation – the most significant federal investment in transit in the nation’s history.
It will boost transit funding for communities all over the country by an average of 30% – helping communities address maintenance backlogs, modernize and expand.
The new funding provided under the bill will help transit agencies reduce the current maintenance backlog by 15% and replace more than 500 aging subway, light rail, and commuter rail cars. It will further modernize the nation’s transit fleet by replacing more than 10,000 fossil-fuel powered transit vehicles with cleaner electric or low-emission transit vehicles.
Key priorities for public transportation under the BID include safety programs, modernization of transit infrastructure, transit vehicle replacement to greener vehicles, and equity investment to improve transit accessibility.
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