CARES Act signed into law; transit agencies to receive federal funds within seven days

The $2 trillion stimulus package signed into law on Friday, March 27 includes $25 billion for public transit agencies. The Coronavirus Aid, Relief and Economic Security (CARES) Act is providing transit agencies funding to prevent, prepare for, and respond to COVID-19. The funding gives critical relief for agencies providing transit service for essential workers and people conducting essential activities at a time when fare revenue and local sales tax are down and cleaning costs are higher.

The $25 billion will be apportioned using the FY20 funding formulas and can be applied to operating costs related to the pandemic accrued since January 20, 2020.

Learn more about the public transit funding in the CARES Act at Mass Transit Magazine.