United States

President Barack Obama has introduced a USD50 billion plan aimed at stimulating the country’s sluggish economy and creating jobs, particularly in the transportation sector. The six-year plan includes the establishment of a government-run bank that will finance innovative transportation initiatives, according to The New York Times. It also covers major upgrades to roads, runways and rail lines across the country. Obama announced the plan at a Labor Day gathering in Milwaukee, where the Democratic Party kicked off the campaign season for the midterm elections in November.

Transportation bills usually wins bipartisan support but Obama’s new plan may not see hasty passage because of the U.S. Congress’ schedule, The New York Times notes. Congress is set to go into recess in a few weeks to allow lawmakers to campaign in their districts.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.