President Obama promoted the benefits of transportation infrastructure improvements to boost the economy and create new construction jobs during a recent visit to PortMiami.
The president proposed a plan that would attract private investment for the upgrade of roads, bridges and other transportation projects. His plan includes spending $4 billion on two infrastructure programs that awards loans and grants, and giving higher caps on private activity bonds to encourage more private spending on highways and other infrastructure projects.
President Obama used PortMiami’s $2 billion Capital Improvements Program as an example of public-private infrastructure upgrades. The projects include a $1 billion tunnel under Biscayne Bay directly linking the Port with the U.S. Interstate Highway System; $180 million port dredge project to accommodate larger vessels after the widening of the Panama Canal; and $50 million intermodal freight rail restoration re-connecting the Port with the national rail system.
President Obama was joined by U.S. Representatives Debbie Wasserman Schultz, Frederica Wilson and Joe Garcia, as well as local officials including Miami-Dade Mayor Carlos Gimenez and Miami Mayor Tomas Regalado.