Obama travels to Delaware to tout new infrastructure program

07/17/2014 10:39 AM

07/19/2014 4:33 PM

President Barack Obama will travel to the Port of Wilmington in Delaware Thursday to announce a new executive action to spur private investment in infrastructure spending.

The new program, created by executive memorandum, Build America Investment Initiative will include the Build America Transportation Investment Center – housed at the Department of Transportation – to serve as a one-stop shop for cities and states to more easily partner with private companies, expand the market for public-private partnerships and put federal credit programs to greater use.

Obama created an inter-agency working group to review public and private infrastrure financing and will hold a summit on infrastructure investment in Sept. 9.

Director of the National Economic Council Jeff Zients said the program will “turbocharge” investment in roads, rails and bridges. “If we don’t act we can lose our competitive edge,” he told reporters.

White House officials say Obama supports the steps that Congress is taking in the short-term to avoid a lapse in the Highway Trust Fund but will continue to push for a longer-term solution to funding. He has introduced a four-year plan to pay for spending by closing tax loopholes.

“Nothing should be a substitute for adequate public financing,” Transportation Secretary Anthony Foxx said.

Nation & World Videos

Join the Discussion

The Wichita Eagle is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service