521 Dirksen Senate Office Building
Washington, DC 20510
Hagan Helps Pass Transportation Bill that Supports more than 27k Jobs in North Carolina
Bill includes flood insurance reauthorization to protect NC communities
Friday, June 29, 2012
Washington, DC - U.S. Senator Kay R. Hagan (NC) today helped pass a long-term, bipartisan surface transportation bill that supports 27,600 jobs and allows $981.4 million worth of construction projects in North Carolina to continue.
"The bipartisan transportation bill will support jobs and economic growth in North Carolina," Hagan said. "Infrastructure is one of the best investments we can make and will allow the United States to remain competitive in a 21st century global economy.
"I am particularly pleased that the bill ensures North Carolina will get back no less than 95 percent of our payments to the highway trust fund. Under the previous law, North Carolina received less than 92 percent."
The bill also includes several programs Senator Hagan worked on that benefit North Carolina, including:
- Funding for a pilot program that provides grants to help communities develop innovative transit projects that stimulate economic growth. The program was taken from a standalone bill Senator Hagan sponsored with two other Senators.
- Funding for a new grant program to help states within the Appalachian region develop new public transportation projects.
- Funding for a program that provides grants to help states build new ferries and ferry terminals.
Hagan also helped the Senate pass a long-term reauthorization of the National Flood Insurance Program. The National Flood Insurance Program was first established in 1968, and has since that time been instrumental in protecting North Carolina families, homes and businesses from financial ruin when flooding occurs. The program was last reauthorized in 2004. That reauthorization expired in 2008, and since then the program has been extended through a series of short-term measures. In fact, the program expired four times in 2010 resulting in lapses totaling 53 days. It has been estimated that those program lapses resulted in the delay or cancellation of more than 1,400 home closings per day, further damaging an already fragile housing market.
"I'm thrilled that the House and Senate were able to come together to reach a bipartisan agreement to improve the program and provide for its long-term extension," Hagan said.