Money from formula programs account for more than 65% of funds provided by agency
WASHINGTON — The Federal Transit Administration on Thursday announced $20.5 billion in federal funding will be available in fiscal 2024 for transit projects.
Funding can be used to modernize, maintain, and operate transit systems; upgrade station, track, and maintenance facilities; plan and design new corridors; and prvide access for seniors and riders with disabilities. State-by-state funding information, as well as for specific urban areas, is available at this page on the FTA website; this funding, based on formulas and funding levels set by Congress, accounts for more than 65% of funding provided annually by the agency.
“We are pleased to provide billions of dollars in federal support to communities thanks to the Bipartisan Infrastructure Law,” FTA Acting Administrator Veronica Vanterpool said in the FTA’s announcement. “Transit funds reach communities large and small, which depend on this funding to start new projects, fix old infrastructure, and ensure fast, safe, convenient service.”
The funds include the $9.9 billion in partial-year apportionments announced earlier this year for the Oct. 1, 2023-March 1, 2024 period while the federal government operated under a Continuing Resolution.
