Obama to Raise Infrastructure Spending

President Obama called for $50 billion in spending on roads, rail, and airports when he announced a new package to boost the flagging economy on Monday in Milwaukee. More money will be spent over six years on infrastructure, and the total cost hasn’t been determined, but the $50 billion is a large chunk. The president wants to see 4,000 miles of railways maintained and built for coast-to-coast travel, plus rebuilding 150,000 miles of roads and bettering 150 miles of runway at airports. This plan focuses on long-term growth instead of short-term job gains, and is aimed at boosting the economy—or voters’ attitudes about the economy—for the midterm elections. On Wednesday, Obama is also proposing a new $100 billion tax credit for businesses that would permanently boost credits for research and development for companies that create new technology that's produced stateside, keeping jobs in the U.S.