US President Barack Obama will announce on Monday a six-year plan to revamp the countries ageing roads, railways and runways.
The plan is one of several economic initiatives that Obama is due to unveil this week, which will be aimed at generating job growth in the US. He hopes these initiatives will help limit the predicted Democratic losses in the November 2 congressional elections.
Obama is also said to ask US Congress on Wednesday to increase and permanently extend a tax credit for business research. The proposal would cost $100 billion over ten years.
Economists are skeptical that these measures will significantly impact the US economy and note that some investments such as infrastructure typically don’t stimulate the economy quickly.
