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

  • Southern Ohio Veterans Memorial Highway ready for construction
    April 13, 2015
    Construction is about to start on the first public-private partnership highway project in the US state of Ohio. The Southern Ohio Veterans Memorial Highway, near the city of Portsmouth, will cost nearly US$228 million and is scheduled for completion in 2019, according to the Ohio Department of Transportation (ODOT). The Portsmouth Gateway Group will build the 25.8km, four-lane limited access highway from U.S. Route 23 north of Lucasville to U.S. Route 52 near Sciotoville. An ODOT statement said tha
    Read More
  • Sourcing road financing for East Africa’s network expansion
    December 4, 2015
    East Africa’s ambitious road expansion programme is seeing the network expand significantly – Shem Oirere writes The East Africa countries of Kenya, Tanzania, Uganda and Rwanda have announced ambitious road sector expansion plans in the 2015/16 financial year. This is despite their national budgets being weighed down by huge deficits and persisting lack of capacity to spend resources allocated to the sector in previous years. With the huge budget deficits, the countries will have to look for alternati
    Read More
  • Germany highway toll system being planned
    January 23, 2017
    Germany is pushing ahead with its plan to charge tolls for use of its national Autobahn highway network. The plans have attracted a high degree of controversy as Germany’s Autobahn system, the world’s first national highway network, has been free for use by car drivers since its inception in the 1930s. Truck tolling was first introduced some years ago on the Autobahn system and this latest development is intended to generate additional revenue that can be used to maintain and develop the network. With both
    Read More
  • Trump loses key infrastructure adviser DJ Gribbin
    April 5, 2018
    The key infrastructure policy adviser to US president Donald Trump has resigned, according to US media reports. DJ Gribbin is "moving on" to pursue unspecified opportunities, a White House official told the Washington Examiner newspaper. Gribbin joined the White House staff in February 2017 to advise Trump on how he could fulfil his election promise to boost infrastructure spending with around US$200 billion. Gribbin previously worked as chief counsel for the Federal Highway Administration and general
    Read More

Highlighted Content