Obama seeks $300 billion for roads, railways

Obama seeks $300 billion for roads, railways Click to Enlarge Photo:

Feb 26, 2014 at 3:46 pm

ST. PAUL, Minn. (AP) — President Barack Obama says spending $300 billion to upgrade roads and railways is a worthy investment that will attract businesses and put people to work.

Obama outlined his transportation proposal Wednesday while visiting a light rail and bus station in St. Paul. The proposal will be in the budget he sends to Congress next week.

Obama wants Congress to provide $302 billion for the federal trust fund that pays for surface transportation projects, such as rebuilding roads and bridges.

Funding is set to expire later this year if Congress doesn't pass legislation in time.

Half of the money would come from overhauling the corporate tax system.

Obama also announced a $600 million competition for federal grants to help local governments pay for road and bridge-building projects.

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