Obama To Call For Infractruture Spending And Business Tax Credits
President Obama will call for a $50 billion package to improve the nation’s infrastructure, which will also put more people to work.
The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.
While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.
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; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a new air navigation system designed to reduce travel times and delays.
Expect the people complaining about Obama not creating jobs to now complain about spending money to create them. However, there is a plan to pay for it, involving closing tax loopholes for oil and gas companies.
Obama will also call for business tax credits for research and development this week. We’ll see if what should normally make Republicans happy will do so with an election coming up.Click here for reuse options!
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