Obama presses Congress for long-term transportation bill

Global Business

U.S. President Barack Obama faced the cameras to discuss the economy. His focus this time: roads, bridges, and other transportation infrastructure.

Obama said outdated systems waste almost $150 billion per year. He supported a proposal from the Republican-led House of Representatives for $11 billion of federal highway funding. But he criticized it as a quick fix and challenged his opponents to find long-term investments in U.S. infrastructure.

House speaker John Boehner criticized Obama for inaction and challenged him to propose his own long-term highway bill. Peter Morici, Professor of International Business at the R.H. Smith School of Business, shares his insight on this issue.

Obama presses Congress for long-term transportation bill

Obama presses Congress for long-term transportation bill

U.S. President Barack Obama faced the cameras to discuss the economy. His focus this time: roads, bridges, and other transportation infrastructure. Obama said outdated systems waste almost 150 billion dollars per year. He supported a proposal from the Republican-led House of Representatives for 11 billion dollars of federal highway funding. But he criticized it as a quick fix and challenged his opponents to find long-term investments in U.S. infrastructure. House speaker John Boehner criticized Obama for inaction and challenged him to propose his own long-term highway bill. Peter Morici, Professor of International Business at the R.H. Smith School of Business, shares his insight on this issue.