The Obama administration's preliminary 2010 budget outline includes a heading, "Improve and Modernize Air Traffic Control."

"Because of an outdated air-traffic control system and overscheduling at airports already operating at full capacity, an ordinary trip to a business meeting or to visit family can become marred by long delays," the proposed budget reads. "The budget provides $800 million for the Next Generation Air Transportation System in the Federal Aviation Administration, a long-term effort to improve the efficiency, safety and capacity of the air traffic control system."
 
The cornerstone of the new system is a switch from a ground-based radar surveillance system to a satellite-based technology that broadcasts an aircraft's position and speed with once-per-second updates. The new system is also designed to allow for greater efficiency of routes through the airspace, allowing more flights close to one another at congested airports; as well as improvements in aviation weather information.
 
It's still early in the budget process, but with Obama's proposed budget specifically earmarking $800 million for the purpose of modernizing the air traffic system, that qualifies this promise as In the Works.