on march 3rd, president obama and vice president biden joined secretary la hood at d.o.t. to announce that 26.6 billion was available to states for highway investment. and within hours of the president's announcement, we began to approve projects. as of yesterday, fhwa division offices have authorized more than 5,000 projects in all 50 states, d.c. and the territories for a total of $15.7 billion which represents 59% of total funds available. i'm proud to say this wouldn't have happened without the strong commitment of fhwa employees. they've worked hard for many months, even before the act was passed to ensure that we'd be ready to implement legislation swiftly and efficiently. in passing the recovery act, congress emphasized the need to rapidly infuse these funds requiring that 50% of the funds apportioned to a state must be obligated under a project agreement by june 29th. i'm pleased to say all states have met the deadline. we're hearing good news from states that projects are running ahead of schedule and under budget. by stretching recovery dollars states are able to