New Federal Bill Will Help City Build 12 Transportation Projects in 10 Years
Today President Barack Obama is expected to sign a bill into law called American Fast Forward that would offer up $105 billion dollars in loans over the next two years to jumpstart transportation projects around the country.
One of the law's winners is Los Angeles (and by proxy, Mayor Antonio Villaraigosa). Some of that money will allow the mayor to put his 30/10 plan into action, which will use 30 years worth of revenue from the Measure R sales tax over 10 years.
The city has 12 transportation projects in the works that could be sped up over the next decade. These projects include the Westside subway extension, a new Los Angeles-LAX line and adding new carpool lanes to the 405 Freeway, according to NBC Los Angeles.
At a press conference yesterday, the mayor and Sen. Barbara Boxer stood next to the 405 and praised the bill. They touted it as a big job creator, claiming it would create (and preserve) millions of jobs.