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October 22, 2011
Let's hear it for another $60 billion infrastructure 'stimulus'
All projects shovel ready, one would assume - or at least almost ready to be shovel ready: The legislation would provide an immediate $50 billion investment in America's roads, bridges and airports, and transit systems and establish a $10 billion national infrastructure bank to leverage private and public capital for longer-term infrastructure projects. "This legislation will create hundreds of thousands of construction jobs rebuilding our roads, bridges and infrastructure," said Majority Leader Harry Reid, D-Nev. The measure would be financed by a 0.7 percentage point surcharge on income over $1 million. The announcement by Senate Democrats came the day after Republicans scuttled a pared-back jobs measure designed to boost hiring of teachers and first responders. That plan failed on a 50-50 test vote that fell well short of the 60 needed to break a filibuster. Two Democrats abandoned Obama on the vote and two more who voted with the president said they couldn't support the...(Read Full Post)