This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-us-canada-21975099
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Obama promotes infrastructure plan at Miami port | Obama promotes infrastructure plan at Miami port |
(35 minutes later) | |
US President Barack Obama is appealing for private funds for infrastructure projects, in a bid to create jobs. | US President Barack Obama is appealing for private funds for infrastructure projects, in a bid to create jobs. |
On Friday, Mr Obama will outline his plans at Port Miami, which is undergoing a $2bn (£1.3bn) upgrade. | On Friday, Mr Obama will outline his plans at Port Miami, which is undergoing a $2bn (£1.3bn) upgrade. |
He is expected to announce $4bn in loans and grants for infrastructure projects, officials said. | He is expected to announce $4bn in loans and grants for infrastructure projects, officials said. |
His administration will propose tax breaks for foreign pension funds that invest in US infrastructure, and other incentives, the White House said. | His administration will propose tax breaks for foreign pension funds that invest in US infrastructure, and other incentives, the White House said. |
Mr Obama is also expected to repeat his call for a $10bn "infrastructure bank" - a proposal he made during his first term that was never acted upon. | Mr Obama is also expected to repeat his call for a $10bn "infrastructure bank" - a proposal he made during his first term that was never acted upon. |
The upgrades at Port Miami are being funded by taxpayers as well as private investors. | The upgrades at Port Miami are being funded by taxpayers as well as private investors. |
The president discussed private-sector infrastructure investment in his State of the Union speech in February. | The president discussed private-sector infrastructure investment in his State of the Union speech in February. |
At the time he called for programmes that would put $40bn toward urgent infrastructure repairs. | |
White House officials say infrastructure spending is one part of the president's plan to fuel the US economic recovery. | |
But the turn toward private funding is driven in part by Republican opposition to increased government spending, analysts say. | |
A senior Obama administration official said the proposals, which would need Congressional approval, would not add to the federal budget deficit. | |
In a conference call with reporters on Friday, the official said details would be spelled out in the president's budget, expected to be released on 10 April. | In a conference call with reporters on Friday, the official said details would be spelled out in the president's budget, expected to be released on 10 April. |