Obama Seeks $50 Billion For Transport Infrastructure Upgrade

By Peter Fowler at 6 Sep 2010

President Barack Obama has announced he will seek $50 billion from Congress to expand and renew America's roads, railways and runways.

He announced the comprehensive infrastructure plan at a Labor Day appearance in Milwaukee, Wisconsin.

The proposal is among a set of targeted initiatives that the President will outline in Cleveland on Wednesday to support economic recovery and ensure long-term sustainable growth.

"The plan builds upon the infrastructure investments the President has already made through the Recovery Act, includes principles the President put forth during the campaign, and emphasizes American competitiveness and innovation," a White House statement said. Some of the tangible accomplishments of the President’s plan over the next six years include:

ROADS: Rebuild 150,000 miles of roads – renewing commitment to the backbone of the transportation system;

RAILWAYS: Construct and maintain 4,000 miles of rail – enough to go coast-to-coast;

RUNWAYS: Rehabilitate or reconstruct 150 miles of runway – while putting in place a NextGen system that will reduce travel time and delays. The President says he will work with Congress to enact a new up-front investment in the nation’s infrastructure – an investment he says would help jump-start additional job creation, while also laying the foundation for future growth.

This initial investment would fund improvements in the nation’s surface transportation, as well as our airports and air traffic control system. President Obama proposes to pair this with a long-term framework to reform and expand America's investment in transportation infrastructure.

"If we are to enjoy the benefits that come from a world-class transportation system, Congress must enact a long-term reauthorization that expands and reforms our infrastructure investments and returns the transportation trust fund to solvency. To jumpstart job creation, this long-run policy front-loads – through a $50 billion up-front investment – a significant share of the new infrastructure resources.

"As with other long-run policies, the Administration is committed to working with Congress to fully pay for the plan."

The long-term framework includes the establishment of an Infrastructure Bank to leverage federal dollars and focus on investments of national and regional significance that often fall through the cracks in the current siloed transportation programs;