President Obama called for $302 billion in transportation spending over the next four years, paid for in part with proceeds from tax reform, while discussing his budget in St. Paul, Minnesota last week. The president announced proposals for new federal grant money for transportation projects – higher spending on highways, ports, rail and bridges.
The bid for a $302 billion, four-year plan comes as Congress struggles to replace the $109 billion two-year transportation spending law that expires Sept. 30.
The president’s proposal would fund about half the four-year spending plan with funds from a tax code overhaul – a reform that has yet to be debated in Congress. Stay tuned.