Announcement Made Regarding $14 Billion Federal Transit Funding.
$14 Billion in Federal Transit Funding Announced
Summary :
The Federal Transit Administration has announced that over $14 billion will be provided to state and local transit agencies for upgrading facilities and equipment, expanding services, and providing specialized services for seniors and riders with disabilities. This is part of the annual formula funding for public transit, which makes up more than two-thirds of the annual $21 billion transit program. The funding is allocated based on population and ridership data and represents a 28% increase over previous funding levels before the Bipartisan Infrastructure Law was passed.
Description :
The annual formula funding grants support transit facilities and maintenance, electrification and equipment upgrades, and expansion of service.
The Federal Transit Administration (FTA) has announced that over $14 billion will be given to state and local transit agencies to support the improvement of stations and tracks, the transition to next-generation buses, the planning and design of new transit corridors, and the provision of specialized service for seniors and riders with disabilities. This funding is part of the federal government’s annual formula funding for public transit, which accounts for more than two-thirds of the annual $21 billion transit program. The formula funding is allocated based on formulas that use population and ridership data. The FTA has stated that “This year’s transit formula funding represents a 28% increase over previous funding levels before the Bipartisan Infrastructure Law was passed.”
sources:
1- melk360.com ,$14 Billion in Federal Transit Funding Announced ,2023-04-14 15:00:00
2- https://www.planetizen.com/news/2023/04/122628-14-billion-federal-transit-funding-announced?rand=493
