JOC Staff | Feb 15, 2013 3:41PM EST
U.S. federal, state and local transportation departments of transportation have so far allocated $7 billion in federal funds during fiscal year 2013, which began Oct. 1, 2012, according to an analysis of Federal Highway Administration data by the American Road & Transportation Builders Association.
The funds represent an increase of 56 percent from the $4.5 billion obligated during the same time in fiscal year 2012.
The report, Obligation of Federal Highway Funds, found that the $2.3 billion set aside in January was 13 percent higher than the amount obligated during January 2012 of $2 billion, but 3.9 percent less than during January 2010 of $2.4 billion, when state DOTs were rushing to obligate the last of their American Recovery & Reinvestment Act funds.
