Biden Harris Infrastructure Plan Allocates $621B For Transportation
The $2.3 trillion infrastructure investment package unveiled by the Biden Harris administration on March 31 – entitled the American Jobs Plan – allocates $621 billion in overall spending to the transportation sector, with the largest slice of that funding aimed at spurring major growth in the electric vehicle market. “Is it big? Yes. Is it bold? Yes. But we can get it done,” President Joe Biden said during a press event in Pittsburgh. “The heart of the plan is modernizing transportation i...
Biden kicks off effort to reshape U.S. economy with infrastructure package
(Reuters) - President Joe Biden on Wednesday will call for a dramatic and more permanent shift in the direction of the U.S. economy with a roughly $2 trillion package to invest in traditional projects like roads and bridges alongside tackling climate change and boosting human services like elder care. He also aims to put corporate America on the hook for the tab, which is expected to grow to a combined $4 trillion once he rolls out the second part of his economic plan in April. Coupled with...
FTA Announces $30.5 Billion to Help the Nation’s Public Transportation Systems Respond to COVID-19
President Biden’s American Rescue Plan Provides Critical Investments to Support Transit WASHINGTON – The U.S. Department of Transportation’s Federal Transit Administration (FTA) today announced a total of $30.5 billion in Federal funding is now available to support the nation’s public transportation systems as they continue to respond to the COVID-19 pandemic and support President Biden’s call to vaccinate the U.S. population. Funding is provided through the American Rescue Plan Act of 2021 (P...
GPA makes major infrastructure investment
SAVANNAH, Ga.– On Monday, the Georgia Ports Authority Board approved capital improvement projects that will increase the Port of Savannah’s container capacity by 20 percent. “Right now, we are moving container volumes that we did not expect to see for another four years,” said GPA Executive Director Griff Lynch. “Our employees are working very hard to ensure we continue to provide our customers with world-class service. Additionally, we are expediting capacity projects that will increase the...
Royal Dutch Shell Experienced Historic Net Loss of $21.5B In 2020 - Revenue Dropped by Nearly 50%
The Royal Dutch Shell plc, more popularly known simply as Shell, is one of the largest companies in the world. However, due to the crippling effects of the COVID-19 pandemic, demand for oil fell sharply reducing its price to historic lows. As a result, Shell had one of its worst years in history, having to cut its dividend for its shareholders for the first time since World War II. According to data presented by TradingPlatforms.com, Shell posted a $21.5B net loss in 2020, with revenue dropping...
Nemetschek SE: Raised Targets for 2020 Fully Achieved - At Least High Single-Digit Growth with High Profitability in 2021
Revenues increase to EUR 596.9 million in 2020 (+7.2%), EBITDA margin at high 28.9% Recurring revenues increase by 19.9% to EUR 359.0 million, driven by subscription/SaaS (+79.6% to EUR 90.4 million) Outlook for 2021: At least high single-digit growth at constant currencies and attractive EBITDA margin of between 27% to 29% targeted Ambition 2023: Growth in the mid-teens following successful subscription/SaaS transition Munich, March 23, 2021 - The Nemetschek Group (ISIN DE 00...
NDOT Awards $39 Million I-515 Viaduct Rehab Project in Downtown Las Vegas
LAS VEGAS, NEV. – The Nevada Department of Transportation (NDOT) last week awarded a $38.8 million construction contract to Las Vegas Paving Corp. to rehabilitate the aging Interstate 515 (U.S. Highway 95) viaduct from Interstate 15 to Eastern Avenue in downtown Las Vegas. (A viaduct is a long bridge-like structure carrying an elevated roadway. It’s not to be confused with an aqueduct that conveys water). The project will extend the near-term service life of the viaduct, portions of which wer...
Governor Wolf Commits to Phasing Out Gas Tax, Announces Commission to Develop Funding Solutions
Harrisburg, PA – Governor Tom Wolf today reiterated his commitment to phase out Pennsylvania's gas tax, which is becoming an unreliable source for funding Pennsylvania's vast transportation network. To make this possible and to further address the state's transportation funding needs, the governor has also signed an Executive Order establishing the Transportation Revenue Options Commission, which will develop comprehensive funding recommendations for Pennsylvania's large and agin...
USDA Investing $285M In Transportation, Infrastructure
The U.S. Department of Agriculture plans to invest $285 million to help the Forest Service address critical deferred maintenance and improve transportation and recreation infrastructure on national forests and grasslands. [Above photo by the U.S. Forest Service.] That funding comes from the newly created National Parks and Public Land Legacy Restoration Fund, established in 2020 by the Great American Outdoors Act. The USDA noted that the Great American Outdoors Act authorizes funding un...
Transportation Getting $100B From $1.9T COVID Package
The $1.9 trillion COVID-19 relief package, known as the American Rescue Plan or ARP recently reconciled between the House of Representatives and the Senate and signed into law by President Joe Biden on March 11, allocates $100 billion to transportation. [Above photo of President Joe Biden signing the ARP into law. Photo via the White House.] According to funding breakdown issued by Rep. Peter DeFazio, D-Ore., chair of the House Transportation & Infrastructure Committee, the final version o...
Video: New Roundabout Under Construction at McIver and Old Florence Roads in Darlington County
Promenade at The Point
June Issue 2026
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