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House votes to add $521 million to federal highway program

August 1st, 2010 / By: / Industry News

The U.S. House of Representatives approved legislation in May that provides $521 million in additional highway funding, increasing allocations for 37 states, according to the AASHTO Journal.

This allocation is contained in a tax-extenders bill, HR 4213, the American Jobs and Closing Tax Loopholes Act, which the House passed 215-204.

The bill also contains an extension of Build America Bonds, which were created by the American Recovery and Reinvestment Act of 2009. The federal government subsidizes interest costs for the bonds paid by state and local governments when they borrow money to finance infrastructure projects.

Source: American Association of State Highway and Transportation Officials

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