today Obama calling for more infrastructure spending
WASHINGTON (AP) Vowing to find new ways to stimulate the sputtering economy President
Barack Obama will call for long term investments in the nation's roads, railways and runways that
would cost at least $50 billion. The officials said the initial $50 billion would be the beginning of a six-year
program of transportation improvements, but they did not give an overall figure. The proposal has a longer-range
focus than last year's economic stimulus bill, which was more targeted on immediate job creation. Obama is also
continuing to prod the Senate to pass the small business bill that calls for about $12 billion in tax breaks and a
$30 billion fund to help unfreeze lending. Republicans have likened the bill to the unpopular bailout of the financial
industry. And the president wants to make permanent the portion of George W. Bush's tax cuts affecting the
middle class. While the idea is popular in Congress, coming up with offsetting tax increases or spending cuts has
been a stumbling block. Similar to his proposal to pay for the infrastructure investments, Obama will ask
lawmakers to close tax breaks for oil and gas companies and multinational corporations to pay for the plan.
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