Democrats propose $60B in infrastructure spending

10/24/2011 | MarketWatch · Wall Street Journal, The

Senate Democrats say they will introduce legislation next week that would provide $60 billion in funding for transportation infrastructure. It would be paid for with a 0.7% surtax on people who have incomes of more than $1 million a year, something the Republicans oppose. The measure includes a $50 billion fund to build and repair highways, railways and airports, and another $10 billion to create an infrastructure bank. "We have to continue working to create jobs," Senate Majority Leader Harry Reid, D-Nev., said.

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MarketWatch · Wall Street Journal, The

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