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Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation’s roads, railways and airports that would cost at least $50 billion, administration officials said.
The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.
While the proposal calls for investments over six years, officials said spending would be front-loaded with an initial $50 billion to help create jobs in the near future. The officials spoke on the condition of anonymity to discuss the proposals ahead of the president’s announcement.
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