Transportation Funding Gets a Serious Boost with Proposed $304 Billion Plan

Published: Feb 27, 2014

Hoping to get a bipartisan support, President Obama proposed a $304 billion plan to increase federal spending in the field of transportation.

In an address given at the Union Depot train station in St. Paul, Minnesota the president promised to “close wasteful tax loopholes, lower tax rates for businesses that create jobs here at home, stop rewarding companies for sending jobs to other countries, and use the money we save to create good jobs with good wages rebuilding America.”

Part of the plan includes a $600 million increase in TIGER grants, which has so far awarded “awarded $3.5 billion to 270 projects in all 50 states”.

But even if he doesn’t receive bipartison support, President Obama is determined to follow through on his plan idependently, because he feels areas such as infrastructures should not be a “partisan issue”. He also reminded the audience that if a transportation is not passed as soon as possible, the problems could begin to emmerge as soon as this summer.

Read the full story at the Commercial Carrier Journal.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.