October 11, 2010
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President Cites New Report in Call for Transportation Authorization
President Barack Obama, at an Oct. 11 White House event attended by governors and mayors, renewed his call for a $50 billion jump start to long-term transportation infrastructure investment, noting the findings of a recent report citing the ongoing need to repair public transportation assets, as well as roads and bridges.
“There’s no reason why the world’s best infrastructure should lie beyond our borders. This is America. We’ve always had the best infrastructure,” Obama said. “All we need is political will.”
The report, An Economic Analysis of Infrastructure Investment, was issued by the Department of the Treasury with the Council of Economic Advisers.
“The president’s proposal emphasizes transportation choices, including mass transit and high-speed rail, to deliver the greatest long-term benefits to those who need it most: middle-class families,” the report notes, adding: “The average American family spends more than $8,600 a year on transportation, one-third more than they spend on food. For the 90 percent of Americans who are not among the top decile in income, transportation costs absorb one out of every six dollars of income.”
The text of the report is available online.