On the recordFebruary 17, 2011
Madam President, the budget the President released Monday includes more than $1 trillion in deficit reduction and two-thirds of it comes from spending cuts. That puts the Nation on the path toward fiscal sustainability. But it also reflects the urgency to invest now in programs that will pay off for a long time. Investing in transportation and infrastructure is the best way to ensure economic recovery now and economic growth well into the future. It has been 2 years since the President signed into law the American Recovery and Restoration Act. The investments made in infrastructure over 2 years have either saved or created over a million jobs all across the Nation. In the first year alone, that Recovery Act led to 350,000 direct on-project jobs. Direct job creation from these projects has resulted in payroll expenditures of over $4 billion. Using this data, the House Transportation Committee calculates that $717 million in unemployment checks have been avoided as a result of this direct job creation. In his State of the Union Address, President Obama challenged us to start rebuilding our infrastructure for the 21st century. Our aging network of roads and rails was built from a long time past. Our infrastructure used to be the best. But let's be honest, America has lost its lead. Mongolia has a more advanced air traffic control system than America. South Korea has faster and easier access to the Internet than America.…
Source
govinfo.gov




