Obama strengthens push for $50B spending on transportation projects

President Barack Obama urged Congress to approve a $50 billion funding plan for transportation projects. Obama's proposal would spend $40 billion on infrastructure that requires the "most urgent upgrades," while $10 billion would be used to create a national infrastructure bank, the White House said. Other provisions in the proposal involve public/private financing and eliminating red tape from permit processes. However, the plan is a "short-term" remedy, said House Transportation and Infrastructure Committee Chairman Bill Shuster, R-Pa.

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