President Barack Obama is set to visit Minnesota today and while there, he will unveil plans for an ambitious transportation bill to upgrade the U.S.’ poorly maintained roads, bridges and railroads.
The bill would replace a $109 billion two-year bill passed by Congress in 2012, notes Politico. It would last four years and, unlike past speeches about transportation reforms, Obama does plan on announcing some ideas on how to pay for it. His proposal would include $150 billion from “one-time transition revenue from pro-growth business tax reform,” according to the White House.
“This vision will show how we can invest in the things we need to grow and create jobs by closing unfair tax loopholes, lowering tax rates, and making the system more fair,” The White House said. “While the President will show how to fully pay for his proposal in this way, he will also make clear that he is open to ideas and wants to work with Congress in a bipartisan way to get this done.”
According to The Los Angeles Times, the president is poised to call on Congress to get this passed as soon as possible, since he believes that it will cost 700,000 jobs if not passed. However, the current two-year bill doesn’t end until this September and the Times notes that Congress is already starting work on renewing the bill.
Obama is visiting the newly-restored Union Depot in St. Paul, Minn. During today’s visit, he will also highlight the success of the Transportation Investment Generating Economic Recovery (TIGER), an initiative created by the 2009 stimulus. He’ll announce more grants that will give $600 million to projects around the country.
image courtesy of Wikimedia Commons
