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

  • Planning Netherland's underground highways
    May 15, 2012
    The first agreements for Amsterdam’s proposed underground highway have now been reached. These have been made by the Dutch Minister for the Environment and Transport as well as Amsterdam local authority and the province of North-Holland. Under the agreed terms, the A10 highway will feature 12 lanes of traffic in four 1.2km tunnels under the capital, Amsterdam. The project will also include building metro and rail lines underground.
    Read More
  • Continuing demand for construction machines
    March 13, 2012
    Corporate results from a series of equipment manufacturers for the early part of 2011 all seem to agree that demand for machines continues to improve.
    Read More
  • Chile’s new urban highway link
    May 2, 2022
    Nestling in a valley beside the Andes mountain range, Santiago has a growing population and has suffered from increasingly heavy congestion in recent years, requiring a new urban road link for which safety has been set as a priority for drivers - *iRAP reports
    Read More
  • CECE Summit – is Europe ready for a digital construction worksite?
    November 20, 2015
    The CECE has voiced his concern over government regulations that could strangle innovation for the digitalisation of construction machinery. China’s imploding economy was another topic at the recent conference in Brussels, reports David Arminas. The CECE has urged the European Parliament and European Commission to enact legislation that promotes rather than hinders the construction sector’s transition to a digitalised way of working. “We need a smart regulatory framework that helps to unlock the full poten
    Read More

Highlighted Content