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.