According to White House, President Obama will announce today to start job creation with a six-year plan to revamp the United States' road, railways and runways with a $50 billion up-front investment. The announcement will be made in Milwaukee.
An official said The President is committed to working with the Congress to fully fund the program, which also includes a proposed infrastructure bank to leverage private capital.
The plans that Obama will propose under the six-year plan including:
- Rebuild 150,000 miles of roads;
- Construct and maintain 4,000 miles of rail;
- Rehabilitate or reconstruct 150 miles of runway and modernize the air traffic control system and;
- Set up an infrastructure bank to leverage private, state and local capital to invest in projects.
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