President Obama signed
the American Recovery and Reinvestment Act
of 2009 into law on Feb. 17. The $787
billion economic stimulus package includes
$64 billion for transportation
infrastructure and is expected to support
more than 1.8 million jobs, according to the
Transportation and Infrastructure Committee.
The American Recovery and Reinvestment Act
allocates the following amounts for specific
transportation initiatives:
| |
Highway and bridge construction
– $27.5 billion
Passenger rail capacity and
high-speed rail projects – $9.3 billion
Public transportation
infrastructure – $8.4 billion
State and local government
competitive grants for
transportation projects – $1.5
billion
Grants for airports to increase
capacity or enhance
security – $1.3 billion
Construction at border-crossings
and screening equipment
for Customs – $520 million
Diesel Emission Reduction Act (DERA)
grants, which provide
carriers
with assistance for purchasing
hybrid trucks or funding
diesel
emission retrofits – $300
million |
While the stimulus package provides a large
amount of money for transportation projects,
more money will be needed for highway
construction and repairs. The American
Association of State Highway and
Transportation Officials (AASHTO) conducted
a survey revealing state Departments of
Transportation have more than 5,000 projects
ready to be contracted within the next 180
days. The projects from all 50 states and
the District of Columbia are estimated to
cost $64 billion.
As the transportation industry evolves,
Avalon is dedicated to supporting the
industry and will always remain a premier
insurance provider. We stay current on
industry events and trends to help ensure
you have coverage for new exposures. Besides
providing our customers with unparalleled
service, Avalon works with more than 80
insurers to find the best coverage for your
needs.
Avalon provides the following insurance
solutions: Truck Insurance, Property and
Casualty coverage, Professional Liability,
Executive Risk Protection, Cargo Insurance
and Surety Bonds.
