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April 21, 2010 8:20 AM, EDT

The Department of Transportation said $48.8 billion is now available to state transportation departments for federal projects through the Hiring Incentives to Restore Employment Act.

The act makes available $40.1 billion from the Highway Trust Fund through Dec. 31 for highway programs in the 2010 fiscal year, DOT said.

HIRE also restores $8.7 billion that was rescinded when the “Safe, Accountable, Flexible, Efficient Transortation Equity Act: A Legacy for Users” expired in September 2009.

President Obama signed the HIRE Act into law March 18 after both houses of Congress passed it.