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

  • Burundi’s bridge lifeline project
    April 23, 2025
    Burundi’s new road bridge project will provide a key lifeline.
    Read More
  • Port bridge upgrade for New York
    March 6, 2012
    Plans are in hand to upgrade the Bayonne Bridge in the USA. The Port Authority of New York and New Jersey intends to raise the central span of the bridge from its current height of 46-65.5m. The port authority has approved a US$1 billion grant for the project. The work is needed to allow larger vessels to pass under the bridge by 2014. Other options have included building a new bridge or constructing a road tunnel but the upgrades to the Bayonne Bridge have been regarded as the most cost effective.
    Read More
  • AfPA alarmed over Australia’s new funding split
    November 17, 2023
    The Australian Flexible Pavement Association says the federal government’s plan for a 50:50 split with states and territories is highly “controversial” and comes amid major road and rail project cancellations.
    Read More
  • Construction industry bodies call for infrastructure investment in Europe
    May 18, 2012
    The European construction contractors and equipment manufacturers associations (the FIEC and CECE respectively) are calling for increased spending on infrastructure in a bid to stimulate economic growth. “Our industry looks forward to the implementation of the right policies and incentives to nurture sustainable growth and jobs”, said Ralf Wezel, CECE secretary general, during a recent debate organised by the European Forum for Manufacturing (EFM) in the European Parliament.
    Read More

Highlighted Content