Long-anticipated $787-billion measure includes $130 billion of construction spending

By Tom Ichniowski

The waiting went on and on as anxious construction industry and state officials watched for months for glimmers of progress in Washington on a bill that they hoped would ease the recession's tightening grip. On Feb. 17, the long wait ended as President Obama traveled to Denver and signed what he called "the most sweeping economic recovery package in our history," the $787.2-billion American Recovery and Reinvestment Act of 2009. It was good news for construction, because the measure contains about $130 billion for highways, buildings and other public works. "How can you not be happy?" asks Stephen E. Sandherr, the Associated General Contractors' CEO. "This is the most significant investment in infrastructure in my lifetime."

As industry officials scrutinize the voluminous bill, they are looking for how much money it allocates for key programs and for details on how and when the funds will be disbursed.

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Posted by boyang at February 18, 2009 7:29 PM