President Obama Announces the American Jobs Act

Posted on: September 9th, 2011 by Deborah Cox

On September 8, before a Joint Session of Congress, President Obama outlined his new plan to create jobs and boost the economy.  In his proposal, The American Jobs Act, the President calls for greater investment in the nation’s infrastructure and makes the case for the development of a National Infrastructure Bank.  The plan, estimated to cost $447 billion, includes $60 billion in new transportation infrastructure spending including:

  • $27 billion for highways
  • $9 billion for mass transit
  • $4 billion for high-speed rail corridors
  • $2 billion for other intercity passenger rail
  • $5 billion for TIGER and TIFIA grant/loan assistance
  • $2 billion for airport improvement grants
  • $1 billion for FAA NextGen air traffic control

The President also asked Congress to approve an extension of unemployment insurance, payroll tax cuts, hiring incentives, and greater funding for public schools, high-speed wireless access, and a new “Project Rebuild” targeted at putting people to work rehabilitating homes, businesses and communities.  The proposal also includes $5 billion to prevent and reverse layoffs of emergency first-responders and $5 billion to modernize community colleges.

More information on the President’s jobs bill is available on the White House website.  To view a White House fact sheet on the proposal, click here. (http://www NULL.whitehouse

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