Obama Delivers $3.7 Trillion Budget to Congress



Click Here!


 Updated:
2/14/2011 8:10:00 AM

President Obama unveiled a $3.7 trillion budget Monday that includes funding for a $50 billion “infrastructure bank� aimed at triggering private investment for some projects, Bloomberg reported.

The administration’s plan would reduce deficits by $1.1 trillion over a decade, but may run into conflict with Congressional Republicans who want more cuts to the budget, Bloomberg said.

In a speech last week at the U.S. Chamber of Commerce, Obama touted infrastructure spending, a stance praised by the business group and by organized labor following his State of the Union speech in late January.

The plan calls for spending $53 billion over the next six years on high-speed rail, while calling for the elimination of a dozen tax breaks for oil, gas and coal companies to raise $46 billion over 10 years.

Those funds would be diverted to help pay for putting 1 million electric vehicles on the road by 2025, doubling the share of electricity from clean energy by 2035 and increasing the efficiency of energy use in buildings by 20%, Bloomberg reported.

The budget will be delivered at 10:30 a.m. Monday morning in Washington.

Click Here!




© 2010, Transport Topics Publishing Group. All rights reserved.

RELATED ARTICLES

iTECH: Document Imaging Goes Mobile (2/14/2011 9:00:00 AM)
Obama Delivers $3.7 Trillion Budget to Congress (2/14/2011 8:10:00 AM)
U.S., Canada Agree to Coordinate Security at Border to Expedite Freight Shipments (2/14/2011 2:30:00 AM)
Obama Backs Infrastructure Development in Chamber of Commerce Speech (2/8/2011 10:15:00 AM)
New Push by Senate Committee Chairman Focuses on FAA Funding, Rail Competition (2/7/2011 6:00:00 AM)
Congestion Cost Trucking $33 Billion in 2009 on Wasted Time and Fuel, Study Finds (1/31/2011 6:30:00 AM)
 
OTHER NEWS BRIEFS

Click Here!

JOIN OUR NEWSLETTER
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.