Transportation Bill Signed Into Law | VideoJessica Roose | 7/6/2012
More money will soon make it`s way to North Dakota. Under the new bill just signed by the President, the Federal Highway Program will provide $240 million in funding each year through 2014.
"The other thing we were able to do is really cut down the regulation and red tape. I think we`ll be able to approve highway projects now in half the time. So really reduce the regulatory burden as well," said Senator John Hoeven.
It`s the first time a transportation bill has been passed by Congress since 2005. The Transportation Bill includes incentives for states to crack down on distracted driving and a requirement that DUI offenders install an ignition interlock in their vehicles.
The legislation signed by President Obama doesn`t just fund transportation, it also affects education.
"It continues the low interest rate at 3.4 percent and obviously that`s very important for our students as they work to get their education," Hoeven said.
"It will save students about a thousand dollars over the lifetime of their loan. That`s with the subsidy change that went into affect. So it will be positive for most students. Again, in order for them to pay for it, for congress to pay for it, some students will be limited with their subsidized loans in the future," said BSC Financial Aid Director Jeff Jacobs.
Jacobs says it`s only a temporary fix and he hopes a more permanent solution can come forward by the time it expires next year.
The legislation also added a five year reauthorization for flood insurance.
All three members of our state`s congressional delegation voted to pass the bill.