President Obama’s 2013 budget calls for nearly $30 billion more on transportation infrastructure annually than the roughly $50 billion sought through the House and Senate’s competing surface transportation plans.
Under a $3.8 trillion budget released Monday, Obama directs Congress to spend $476 billion over the next six years, or roughly $80 billion annually. The budget calls for $78 billion budget for the Department of Transportation in fiscal 2013. Obama is also restarting his push to spend $50 billion immediately, a key element of the president’s failed jobs.
“President Obama’s budget for the Department of Transportation reflects our commitment to investing in an America that is built to last,” said Transportation Secretary Ray LaHood. “A strong American economy depends on the roadways, runways, and railways that move people and goods from coast to coast and around the globe."
About $305 billion would be spend on building roads and bridges over the next six years, a 34 percent increase over past authorizations, said the White House. Obama's budget proposal also would provide $2.5 billion for the first year of a six-year, $47 billion rail reinvestment plan, as the president continues to push the development of high-speed and inner city passenger rail expansion.
The House’s five-year transport plan would spend about about $52 billion annually, while the Senate’s two-year transport bill calls for about $54.5 billion annually in transportation infrastructure spending.