Congress, Obama Transition Team Continue to Develop Comprehensive Economic Stimulus Plan
Congressional leaders have talked about an economic stimulus package that could total as much as $500 billion. It is unlikely that it would be taken up before the 111th Congress convenes on January 6, 2009, and it will not be sent to the president before President Elect Obama takes the oath of office on January 20.
Infrastructure Investment
While details of the package are still under development, it is widely expected that the infrastructure investment component of the package could represent 聽20-30% of the total package. 聽澳门六合彩开奖预测 has been successful in coordinating information from various owner groups about projects ready to go and relaying our message that a significant investment in infrastructure will spur economic development, helping to cultivate support among key Congressional decision-makers. 聽Significant increased investment is expected in transit, airports, schools, roads, bridges, public housing, flood protection and waste water and drinking water infrastructure projects in the stimulus bill. Support for infrastructure investment is also strongly supported by President-elect Obama, who announced on November 21 a new initiative to save or create 2.5 million jobs in the next two years that includes infrastructure investment, school modernization and new energy policy initiatives.
At a meeting of the National Governors Association on December 2, the nation's governors requested that the stimulus package include as much as $136 billion worth of road and bridge repair projects that are 鈥渞eady-to-go.鈥 The governors are also asking for direct aid to states experiencing significant budget deficits and urged President-elect Obama to consider establishing a national infrastructure bank that could issue bonds to finance infrastructure projects as part of the economic stimulus package currently being developed. During his campaign, Obama proposed creating an infrastructure bank that could issue up to $60 billion in tax-credit bonds, which provide investors with a tax credit instead of interest payments. 澳门六合彩开奖预测 endorsed similar legislation introduced in the 110th Congress.聽
Below are funding needs 澳门六合彩开奖预测 has compiled from many owner groups that have been identified as 鈥渞eady-to-go鈥 projects.
- Highways and Bridges:聽At least $30 billion for projects as identified by AASHTO
- Water Resources:聽$7 billion - $10 billion in new funding for the Corps of Engineers
- Drinking Water and Wastewater Treatment Systems:聽$10 billion for the repair and construction of publicly owned sewage treatment works,聽$10 billion in new financial aid to the nation's drinking-water treatment systems
- Public Transit:聽$3.6 billion for transit projects already authorized
- Aviation:聽$600 million worth of capital improvement projects
- Dams:聽$50 million for the dams in greatest need of repair
- School Construction:聽$10 billion needed for repairs and new construction
- Federal Facilities:聽$1 billion for repair and alterations
- Public Housing:聽$1 billion for the Public Housing Capital Fund