CCTV.com - CNTV English - CCTV News

Obama unveils 50 bln dollar infrastructure package

09-07-2010 08:20 BJT Special Report:2010 US Midterm Elections |

Watch Video

Play Video

US President Barack Obama has unveiled a 50 billion dollar infrastructure package to build roads, railways and airport runways to improve the country's employment situation.

Obama says he wants the US to have the best infrastructure in the world.

President Barack Obama got a rousing reception at this Labor Day event in Milwaukee, Wisconsin.

He was there to announce a six-year, 50 billion US dollar plan to create more jobs and help with the country's economic recovery.

Barack Obama, US President, said, "We are going to rebuild 150,000 miles of our roads - that's enough to circle the world six times. We're going to lay and maintain 4,000 miles of our railways - enough to stretch coast-to-coast."

Transportation experts say 35-thousand jobs are created for every one billion US dollars invested in the construction of transportation infrastructure.

Political analysts say Obama is under pressure to do more to create jobs and bring down the country's stubbornly high 9.6 percent unemployment rate, to gain support for the Domcrats in November's congressional elections.

Obama is using his speech in Milwaukee and a trip to Cleveland, Ohio on Wednesday to set the tone for his autumn campaign. In Cleveland, he will unveil a proposal on increasing and permanently extending a tax credit for business research and development.The tax credit proposal will cost 100 billion dollars over 10 years.

He's also expected to talk this week about a payroll tax holiday, extending tax cuts for the middle class and increasing money for clean energy.

 

Related stories


Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program