New plan to invest funds in to US highways

The US Government has proposed an investment of some US$320 billion for repairs on roads and transit systems. The US president, Barack Obama, has suggested financing this four-year plan by revising how businesses are taxed and closing tax loopholes. Another proposal has been to revamp the tax code that allocated spending of $126.5 billion for infrastructure and highways. One other option includes increasing taxes on fuels used in trucks and cars to pay for the upgrades. In addition, Obama unveiled the comme
February 27, 2014 Read time: 1 min
The 908 US Government has proposed an investment of some US$320 billion for repairs on roads and transit systems. The US president, Barack Obama, has suggested financing this four-year plan by revising how businesses are taxed and closing tax loopholes. Another proposal has been to revamp the tax code that allocated spending of $126.5 billion for infrastructure and highways. One other option includes increasing taxes on fuels used in trucks and cars to pay for the upgrades. In addition, Obama unveiled the commencement of a $600 million competition for grants to construct infrastructure for transit systems, roads and ports.
Finance & Funding

For more information on companies in this article

Related Content

  • British Colombia in Canada plans major road investment
    March 20, 2015
    In Canada the British Colombia Government has announced a programme of road and highway upgrades worth a total of US$1.99 billion (C$2.5 billion). The investment will be used to rehabilitate side roads, highways and bridges across the province. This plan will include repaving some 1,000km/year of provincial highway, with this plan stretching out over a period of 10 years. A key portion of the work will be to widen Highway 1 section to six lanes between Abbotsford and Langley. The proposed plan has been titl
    Read More
  • Modern road system is 'a must'
    August 2, 2012
    Australia's GDP could see a major increase if traffic bottlenecks in big cities were to be removed, and the government is addressing this as a matter of urgency A modern road system is a must in Australia where it is estimated that the removal of traffic bottlenecks could potentially raise the country's GDP by 0.8%. According to the Committee for Economic Development of Australia (CEDA), which made the prediction, infrastructure bottlenecks (particularly in cities, which account for over 70% of the country'
    Read More
  • Road pricing revenue a source of investment funds
    February 16, 2012
    When channelled back into the road sector, revenue from road charging is seen by many as a source of additional investment and research funds as Patrick Smith reports. Late in 2010, three major European organisations put out a policy statement calling for fair charging for greener, smarter and safer road infrastructure. ASECAP (the European toll road operators organisation); ERF (European Road Federation) and the IRU (International Road Transport Union), said that in recent years the concept of road chargin
    Read More
  • Major highway growth in Portugal
    February 14, 2012
    Twenty years ago Portugal was bottom of the European league in terms of roads and safety. A series of ambitious plans has seen the country rise to the top. Patrick Smith reports on how this was achieved
    Read More

Highlighted Content