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

  • Highways Agency rebrands as part of its first five-year plan
    December 10, 2014
    The UK’s Highways Agency will rebrand as part of the organisation’s first five-year Strategic Business Plan to maintain England’s motorways and major A roads up to 2020. The plan for England’s strategic road network was developed response to the Road Investment Strategy published in early December. The UK government is getting set to make deliver the largest investment in roads since the 1970s and wants to make sure it gets value for money as well as nearly US$1.9 billion (£1.2 billion) of efficiency savin
    Read More
  • Africa’s road builders need a reliable supply of good-quality bitumen
    May 8, 2015
    Crying out for consistency Getting hold of the right product, or any product at all, is often the challenge, as delegates to the Argus Africa Bitumen conference heard Many parts of Africa have ambitious road building plans for the next few decades. But clients and contractors are facing problems with the quality and supply of bitumen, delegates at the Argus Africa Bitumen conference were told. If there was one overriding message to come out of the conference, held in Dar Es Salaam, Tanzania in Feb
    Read More
  • Plans for Chile-Argentina tunnel progressing
    August 14, 2014
    Successful talks have been held between Chile and Argentina regarding the planned Agua Negra road tunnel that will link the two countries. Further talks will be carried out with regard to financing the project but these look set to be completed towards the end of August 2014, according to a report from Business News Americas. One option is for Argentina’s Government to pay for the construction with the costs being recovered through tolling but other financing solutions have also been discussed. The Agua Neg
    Read More
  • Nepal sets major infrastructure programme in motion
    February 15, 2012
    The Nepalese Government is setting out a strategy to invest heavily in its transport connections. The country has set a budget of US$5.49 billion for the fiscal year 2011-2012, with $530 million to be spent on the infrastructure development programme.
    Read More

Highlighted Content