Highway and bridge rebuilds part of Obama’s US$4bn plans for infrastructure works

In his new budget on Wednesday 10 April, 2013, US president Barack Obama is due to reveal details of a proposed US$4 billion loans and grants investment in America’s roads, bridges and other infrastructure. During a visit to Port Miami, which is undergoing a $2 billion upgrade and tunnel project, the president also repeated a call for a $10 billion "infrastructure bank" to attract investment for projects that will have the greatest impact on the economy. The Obama administration is proposing tax breaks for
April 3, 2013 Read time: 1 min
In his new budget on Wednesday 10 April, 2013, US president Barack Obama is due to reveal details of a proposed US$4 billion loans and grants investment in America’s roads, bridges and other infrastructure.

During a visit to Port Miami, which is undergoing a $2 billion upgrade and tunnel project, the president also repeated a call for a $10 billion "infrastructure bank" to attract investment for projects that will have the greatest impact on the economy.

The Obama administration is proposing tax breaks for foreign pension funds that invest in US infrastructure, and bonds designed to attract investors in larger projects.

According to the president, employment of construction workers for infrastructure projects will increase the nation's competitiveness and reduce jobless rate.

Related Content

  • Chinese firm wins highways expansion project to decongest Nairobi
    January 5, 2017
    A Chinese contractor is carrying out a major road project intended to cut congestion in Kenyan capital Nairobi – Shem Oirere writes Chinese contractor China Wu Yi has won a US$163 million contract for the reconstruction and expansion of a 25km highway leading out of Kenya’s capital Nairobi with financing from the World Bank. The contract was awarded by the country’s National Highways Authority (KeNHA), a state-owned road agency responsible for the management, development, rehabilitation and maintenance of i
    Read More
  • Bulgaria plans for operating road infrastructure
    February 21, 2012
    There is a lot of work to do on Bulgarian roads, but the government has plans to increase the length of highways built each year as Krasimir Krastanov reports. Bulgarian roads with a pavement make up 98.4% of all the country's roads, while 92.5% of them have an asphalt surface and 82.8% of them are able to carry 10tonnes/axle.
    Read More
  • States source funding for US highway improvements
    June 19, 2020
    States in the US have sourced Federal funding for highway improvements.
    Read More
  • More money for Czech roads in 2013 than previous year
    April 8, 2013
    Investment in new and existing roads, railways and waterways in the Czech Republic is set to rise in 2013, compared to the sum spent in 2012. The Czech National Transport Infrastructure Fund (SFDI) has a budget of €2.502 billion (CZK64.5 billion) in 2013, compared to almost €2.02 billion (CZK 52bn) invested in 2012. The amount invested last year represented a decline of €349.24 million (CZK 9bn) when compared with 2011. Originally, SFDI planned to invest €2.561 billion (CZK 66 billion) into infrastructure i
    Read More

Highlighted Content