President Obama is traveling to the Union Depot in St. Paul, Minn., on Wednesday to call for new spending on transportation infrastructure, an issue that remains stalled in Congress.
The president will call on lawmakers to pass a four-year, $302 billion surface transportation reauthorization bill that would help repair and modernize the nation's roads, bridges, railways and transit systems, according to a fact sheet provided by the White House. To help fund the initiative, Obama will propose dedicating $150 billion in "one-time transition revenue from pro-growth business tax reform," officials said.
Funding for many transportation projects is due to expire later this year, according to the White House, putting more than 700,000 jobs in jeopardy.
Obama will also launch a $600 million competition through the Transportation Department's existing TIGER grant program, which funds a range of infrastructure projects. TIGER stands for Transportation Investment Generating Economic Recovery. The grants, according to officials, will go to projects that will have a significant impact on a region, promote better job access and financial opportunity, save energy and fuel and spur economic development.