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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Obama Advances 478 Billion Dollar Infrastructure Funding Proposal
http://www.politicususa.com/2015/02/02/president-obama-advances-478-billion-dollar-infrastructure-funding-proposal.htmlPresident Obama Advances 478 Billion Dollar Infrastructure Funding Proposal
By: Keith Brekhus
Monday, February, 2nd, 2015, 7:30 pm
President Obamas budget request Monday called for a six-year, 478 billion dollar public works program, designed to rebuild the nations crumbling infrastructure. The plan would allocate funds for rebuilding and modernizing bridges, railroads, highways, and airports. The program would be funded by a one-time, 14 percent tax on corporate profits accumulated overseas.
By investing in American jobs, while taxing offshore profits, the Obama plan is sort of the antithesis of the Keystone XL pipeline proposal. The Keystone XL plan essentially calls for using foreign steel to construct a pipeline to transport Canadian oil to foreign markets, while providing a very small number of long-term American jobs. By contrast, Obamas new budget proposal will repatriate some profits obtained through outsourcing, and use those profits to reinvest in American workers and American infrastructure.
Republicans are already arguing that Obamas plan is too costly, but they have not offered a compelling alternative to address the nations infrastructure needs. In 2013, the American Society of Civil Engineers (ASCE) gave the nations infrastructure a D+ grade on their report card. They estimated that 3.6 trillion dollars would need to be invested by 2020, to upgrade the nations roads, bridges, and ports. Obamas proposal calls for only a portion of that total.
In addition to the federal government, state and local governments also would need to step up their efforts to invest in rebuilding America. The World Economic Forums Global Competitiveness Report ranked the United States behind 18 other nations for overall infrastructure quality. That ranking placed the United States behind Portugal, Spain and Oman.
A catastrophic pancake collapse of an Interstate 75 bridge on January 20th, emphasized the need for American infrastructure improvements to begin immediately. The Ohio bridge collapse killed one man and injured others. With so many bridges and roads in need of repair, investing in restoring the nations infrastructure is a common sense choice that should be applauded by Americans of all political persuasions. Unfortunately, the Republican Party has already attacked Obamas plan because it raises taxes. In the Republican mind, offshore profits for multinational corporations are apparently a higher priority than keeping Americas bridges from crashing down.
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President Obama Advances 478 Billion Dollar Infrastructure Funding Proposal (Original Post)
babylonsister
Feb 2015
OP
NoJusticeNoPeace
(5,018 posts)1. And while it should be triple that, they wont even let him have that
It is better to have the government be the employer of last resort than not to.
It is better to pay one guy to dig a hole and one guy to fill it in, than for them not to work.
Response to babylonsister (Original post)
1000words This message was self-deleted by its author.