WASHINGTON — President Barack Obama is asking Congress to approve at least $50 billion in long-term investments in the nation's roads, railways and runways in a pre-election effort to show he's trying to stimulate the sputtering economy.
The infrastructure investments are part of a package of targeted proposals the White House announced on Monday. With November's elections for control of Congress approaching, Obama planned to discuss the proposal later Monday at a Labor Day event in Milwaukee.
The proposals would require congressional approval, which is highly uncertain at a time when many legislators and voters are worried about adding to federal deficits that are already sky-high.
Even if lawmakers could pass a bill in the short window between their return to Capitol Hill in mid-September and the elections, the early projects would not create jobs immediately. Senior administration officials, who would not be quoted by name before Obama's announcement, said the initial projects would lead to new jobs over the course of 2011.
The officials said the initial $50 billion would be the beginning of a six-year program of transportation improvements, but they did not give an overall figure. The proposal has a longer-range focus than last year's economic stimulus bill, which was more targeted on immediate job creation.
The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; shorter, high speed rail projects; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a next generation air navigation system designed to reduce travel times and delays.
Obama will also call for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.
Administration officials wouldn't say what the total cost of the infrastructure investments would be, but did say the initial $50 billion represents a significant percentage. Officials said the White House would consider closing a number of special tax breaks for oil and gas companies to pay for the proposal.
Associated Press
