SME Times is powered by   
Search News
Just in:   • Regulatory authorities need to highlight shady firms: SBI chief  • Singapore's non-oil domestic exports fall  • COWE achieves NIMSME partner institute status  • Not imposing export taxes on coal: S.Africa to India  • Infosys software deployed by Turkish Bank 
Last updated: 18 Aug, 2012  

US Flag THMB US to unlock unspent infrastructure funds

Infrastructure.9.jpg
   Top Stories
» India, Japan to push trade, investment ties
» 'Govt willing to engage unions to curb inflation'
» India, EU conclude another round of BTIA negotiation
» Handicrafts exports soar 13 percent in April
» India, China to be biggest investors by 2030: World Bank
IANS | 18 Aug, 2012

The Obama administration moved Friday to boost construction jobs by making more than $470 million in unspent infrastructure funds available to state governments.

The move to free up the unspent funds, known as earmarks, is aimed at creating work for the hundreds of thousands of construction workers suffering from the US' anemic economy, reported Xinhua.

Effective Friday, transportation departments in all states would have the ability to use their unspent earmarked highway funds, some of which were nearly 10-years old, on any eligible highway, passenger rail or port project, a White House statement said.

"My administration will continue to do everything we can to put Americans back to work. We're not going to let politics stand between construction workers and good jobs repairing our roads and bridges," President Barack Obama said.

US Transportation Secretary Ray LaHood said: "We are freeing up these funds so states can get down to the business of moving transportation projects forward and putting our friends and neighbours back to work."

About $473 million in highway earmarks from the 2003 fiscal year to the 2006 fiscal year remain unspent.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
55.30
54.35
UK Pound
84.50
82.50
Euro
71.80
70.00
Japanese Yen 54.40 53.00
As on 19 May, 2013
  Daily Poll
Do you think banks will lower lending rates after recent RBI rate cut?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(6)
» MSME schemes - Do you know all of them?(4)
» Export outlook not so grim(3)
» SMEs against local body tax imposed by Maharashtra govt.(3)
» Golden fibre making inroads into road construction(3)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter