Menendez Announces More Federal Funding for Transportation

The passage of a new transportation bill will mean more funding for New Jersey's highways as well as more jobs, U.S. Senator Robert Menendez announced at the Hoboken Terminal on Monday morning.

The bill will provide New Jersey with $506 million federal forumal transit funding in the 2013 fiscal year and $514 million in the 2014 fiscal year, Menendez said. This results in $70 million more annually, compared to the current law.

"It's a tremendous bill for our state," the senator said. The bill will add 54,000 jobs to New Jersey, Menendez added. 

"This transportation bill is a jobs bill that will give a much needed boost to our economy, rebuild our roads and bridges and help make our nation more competitive," Menendez said. 

Menendez announced also that the National Transit Institute at Rutgers will receive $5 million in funding. 

The bill, Menendez said on Monday, will also start planning development around new transit hubs. 

For Hoboken, the bill is a bit "bittersweet," said Director of Transportation and Parking Ian Sacs, because it mostly focuses on highways and public transit, rather than pedestrian and bicycle safety. 

The bill, Sacs said, is very "highway focused." But, he added, "it's a good compromise nationally."