President Barack Obama will use $500 billion over a decade to fund new and improved roads, bridges and other infrastructure, as he seeks to build a more inclusive economy.
The spending will be part of a larger $1 trillion package of spending plans to rebuild America’s infrastructure, including more money for roads and bridges, the White House said Wednesday.
Obama is using $500bn over 10 years to fund “a massive new wave of infrastructure investments that will enable us to build jobs and create wealth in America,” according to the budget proposal.
The budget calls for $400bn in spending on road, bridge and other transportation projects over 10 to 20 years, and $300bn for the next decade.
The administration also will spend $300 billion over the next 10 years for road and bridge construction, $300m for a program to train transportation workers, $350m for funding more schools, $200m for more community colleges and $100m for grants to businesses.
Obama said the money would go toward repairing and improving existing roads and public transit systems, as well as upgrading transit and other public transportation.
He wants to use the money to improve the nation’s road infrastructure and make it safer for Americans, he said.
Obama will also use $250bn over five years to invest in water and wastewater infrastructure, $100bn over two years to expand water treatment plants, $50bn over a five-year period to create a national network of clean energy facilities and $150bn over the first 10 years of the plan to increase energy efficiency in the country’s power plants.
He also said the plan would create more than 20 million jobs over the 10 years, including 800,000 new jobs. “
We will rebuild America and get our economy back on track,” Obama said.
He also said the plan would create more than 20 million jobs over the 10 years, including 800,000 new jobs.
The proposal comes amid growing concern over the cost of the federal government’s aging infrastructure, with the cost for each year of operation at the federal level now exceeding $100 billion.
In the latest update to the president’s plan, Obama is also seeking to increase federal spending on education and workforce training.
The plan also proposes $25bn over three years to hire 200,000 additional federal employees and $50 billion over three months to hire 100,000 teachers and train 200,0000 additional teachers.
The White House says the money will go toward new job training programs for teachers and school counselors, and to pay for more than $400m in research on the causes of climate change and other environmental issues.
The president’s proposal also calls for funding for research into the effects of climate changes on the health and safety of the American public, as part of the administration’s efforts to reduce emissions of greenhouse gases and reduce carbon pollution.
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