Obama budget has $556 billion, six-year transport planBy John Crawley and Lisa Lambert
WASHINGTON | Mon Feb 14, 2011 5:00pm EST
(Reuters) - President Barack Obama on Monday proposed an ambitious long-term transport spending plan in his 2012 budget as a way to boost U.S. economic competitiveness and spur job growth.
While cutting other spending, Obama aggressively accelerated efforts to upgrade aging roads, bridges and introduce high-speed rail with a six-year, $556 billion package.
"It's really about a big vision, a bold vision, an innovative vision," Transportation Secretary Ray LaHood told reporters.
The total is 60 percent richer than the last transportation blueprint enacted by Congress, which expired in 2009.
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The Obama proposal relies heavily on competitive grants and sidesteps earmarks in order to depoliticize how projects are financed. According to LaHood, the plan will consolidate 55 smaller highway programs into five different areas.
"This budget does all that I've talked about in bold terms ... without passing any debt on to future generations," LaHood said, adding the federal government will ensure "the dollars we give out do not exceed dollars coming in."
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