Obama proposes US$50bn boost to infrastructure
Plans for a US$50bn investment in infrastructure have been revealed by US President Barack Obama.
Over the next six years, roads, rail and runways in the US will benefit from the investment, President Obama told an event in Milwaukee, Wisconsin, and he added, "This is a plan that will be fully paid for. It will not add to the deficit over time.
"We’re going to work with Congress to see to that. We want to set up an infrastructure bank to leverage federal dollars and to focus on the smartest investments."
He said the plan was to rebuild 150000 miles (241400km) of roads, to lay and maintain 4000 miles (6440 km) of railways, and restore 150 miles (241km) of runways.
President Obama said, "We want the best infrastructure in the world. We used to have the best infrastructure in the world, and we can have it again."
The plans, seen as an attempt to create jobs in the faltering US market, have been met with a mixed response.
Some commentators in the US have speculated President Obama may meet resistance in Congress, and it is felt the US$ 50 billion may not be sufficient to make a difference.
Published under Cement News
