| S. 3548 - The Coronavirus Aid, Relief, and Economic Security Act
Today, the U.S. House of Representatives, the U.S. Senate and the White House are working to adopt to S. 3548 The Coronavirus Aid, Relief, and Economic Security Act. The legislation – which we expect to be signed into law later this week –
includes approximately $2 trillion in COVID-19 related funds, including hundreds of billions of dollars for direct payments to Americans, billions of dollars to bolster the nation’s unemployment insurance programs, and billions of dollars to bolster the transit industry, among many other national fiscal priorities.
Specifically, for transit agencies nationwide, the bill would provide $25 billion through sections 5307, 5311, 5337, and 5340 of title 49, United States Code. According
to preliminary estimates by Metro’s professional staff, our agency may receive approximately $710 to $810 million in assistance through S. 3548 – with specific terms on how these funds can be spent on matters directly related to the COVID-19 pandemic. Metro will, over the coming days, be working with relevant federal authorities, including but not limited to, the U.S. Department of Transportation and members of the Los Angeles County Congressional Delegation, to ensure our agency takes all reasonable and prudent steps to allocate these important federal resources to their highest and best use in the midst of the COVID-19 pandemic.
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