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Obama asks Congress to pass $21 billion bill for infrastructure improvements

Posted By Wayne Grayson On April 2, 2013 @ 9:24 am In Construction News | No Comments

obamainfrastructurespeech [1]On Friday, President Barack Obama proposed a $21 billion package of improvements for the country’s infrastructure, reports our sister site Better Roads. [2]

The plan is to be part of the President’s budget April 10th and includes $10 billion for an infrastructure bank that would bring together public and private funding.

Also part of the plan is a $4 billion investment program that would help support the Transportation Infrastructure Finance and Innovation Act. TIFIA is a program intended to leverage private and nonfederal funding for regional and national projects through loans, loan guarantees and lines of credit.

Also included is a set of $7 billion in tax incentives to support state and municipal bonds for projects, including a measure to remove penalties on foreign investment in United States real estate and infrastructure projects.

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[1] Image: http://www.equipmentworld.com/files/2013/04/obamainfrastructurespeech.jpg

[2] reports our sister site Better Roads.: http://www.betterroads.com/obama-proposes-21-billion-infrastructure-bill/

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