Obama unveils $50bn US infrastructure package

clock

US President Barack Obama has unveiled a $50bn infrastructure spending package aimed at reviving the faltering American economy and cutting the country's mounting unemployment.

Obama says the six-year investment will revamp ageing roads, lay and maintain railways and upgrade airport runways. While the programme will not create jobs immediately, the President says the package will bring a significant number of people back to the workforce. Speaking in Milwaukee on Labor Day, Obama says no area of the workforce has been hit harder during the recession than the country's construction workers. "It doesn't do anybody any good when so many hardworking Americans have been idled for months, even years, at a time when there is so much of America that needs rebuild...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

OBR independence 'a major advantage' for UK economy

OBR independence 'a major advantage' for UK economy

Treasury Committee hearing

Alex Sebastian
clock 20 May 2026 • 4 min read
Bank of England warns of future rate uncertainty after vote to hold at 3.75%

Bank of England warns of future rate uncertainty after vote to hold at 3.75%

One vote to hike rates

Michael Nelson
clock 30 April 2026 • 2 min read
Navigating an uncertain environment: Applying a disciplined, data-driven approach

Navigating an uncertain environment: Applying a disciplined, data-driven approach

'​Looking ahead, the fundamental case remains constructive'

Fahad Hassan
clock 28 April 2026 • 2 min read