Factbox: Obama proposes $50 billion for road, rail, airways

President Barack Obama would spend $50 billion on revamping highways, rails and airport runways to create jobs in the near term and improve the long-term U.S. transportation network.

The $50 billion would be spent in the first year and be part of a six-year transportation bill that must be passed by Congress, an administration official said.

An infrastructure bank would be created under the plan to leverage federal funds with state, local and private funding for important projects.

Following is a summary of the proposal, its likely impact and possible ways to offset its cost.

Read Full Article from Reuters

- Posted: 2010-09-06 20:28:38

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