DOT releases $2 billion in funds for transit systems
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UNITED STATES -- The U.S. Department of Transportation is releasing $2 billion in emergency funds for transit systems affected by Superstorm Sandy. It's the first installment of nearly $11 billion signed by President Obama last week to restore and protect the area's transportation system damaged by the superstorm.
The Port Authority says the PATH rail system took about $300 million in damage. New Jersey's transit system suffered around $700 million in damage, though officials say that almost $100 million of that will probably be covered by insurance.