Sen. Hagan says NC will receive $103 million in FTA funding

(The following is from the office of Senator Kay Hagan.)

WASHINGTON, DC - U.S. Senator Kay R. Hagan (D-NC) announced today that North Carolina will be receiving more than $103 million in Federal Transit Administration (FTA) funding made available with the passage of the American Recovery and Reinvestment Act.

"People in North Carolina and across the country are hurting," said Hagan.  "The American Recovery and Reinvestment Act is crucial first step to begin getting our economy moving again.  These funds will put people to work now, improve the infrastructure and safety of our state and help lay the foundation for future economic growth."

North Carolina will receive $70 million allocated towards urban transportation and $33 million for rural transportation.  Under the FTA funding formulas, the money can be used for planning, engineering designs, transportation-related evaluation studies, and capital investments for buses or bus repairs.

The ARRA represents the largest investment in national infrastructure since the 1950s, and will double domestic renewable energy generating capacity over the next three years to lower America's dependence on foreign fuels and creating enough energy to power six million homes.

In addition to tax cuts for 95% of workers and their families, the bill will create or save 3.5 million jobs nationwide, including 105,000 jobs in North Carolina over the next two years.   A new American Opportunity Tax Credit will create a $2,500 partially refundable tax credit for college tuition, helping to put college in reach for 118,000 North Carolinian families and 3.8 million families nationwide.