In hopes of modernizing the nation's infrastructure, President Obama revealed a plan to invest $302 billion in transportation over the next four years. As reported in Politico , the President hopes the additional funds will not only keep the Highway Trust Fund solvent in the short term, but provide a true long-term vision for a modern infrastructure. But it is not just highways that will be improved. The President's plan should also give a boost local agencies that are investing in light rail, street cars, and bus rapid transit.
The President will need support from both parties to implement his vision. But it appears that at least some Republicans support the President's vision. The House Committee on Transportation and Infrastructure Chair Bill Shuster released a statement that was generally supportive of the Federal government's commitment to improving the nation's infrastructure. Of course, it remains to be seen if both parties can agree on the best approach to achieve those goals.
We anticipate more details of the transportation plan will be revealed in the President's 2015 Budget Request, due out next week.
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