President Barack Obama rolled out three proposals focused on infrastructure designed to stimulate the economy on Friday at a speech at the Port of Miami Terminal. The proposals were for a national infrastructure bank, strengthening Build America Bonds, and bolstering TIFIA and TIGER grant programs.
The three proposals have an estimated price tag of around $21 billion and need congressional approval before their enactment. The idea of a national infrastructure bank has been proposed multiple times by the administration, but has never received congressional approval.
While Obama focused on issues of transportation and economic stimulation for the bulk of his 14-minute speech, he hurriedly switched topics at the conclusion of the remarks.