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President Barack Obama has submitted his 2014 Fiscal Year Budget to Congress and a great deal of money has been set aside for construction projects.
According to a report from our sister site Better Roads, Obama’s $3.8 trillion budget includes $50 billion for infrastructure repairs.
Of that amount, $40 billion will go directly to Obama’s “fix-it-first” initative which will supply funding for the most urgent of repairs needed for U.S. highways, bridges, transit systems and airports.
And according to a report from Overdrive, another of our sister sites, the President also allotted $77 million in this budget for the Department of Transportation.
Plus, the budget includes “full support” of the MAP-21 highway funding law with $53 billion in funding. That amount overlaps some with the $50 billion plan for immediate infrastructure funding.
Be sure to read Better Roads Editor John Latta’s full breakdown and take on the budget. John gives the budget funding a B+ and says it “doesn’t change much and it doesn’t knock your socks off.”
The budget also includes a $6.4 billion earmark for high-speed rail projects.