Obama’s Proposed Budget Calls for Big Changes in Infrastructure Funding

The unpopular Eisenhower-era gas tax that’s used to pay for federal transportation projects may soon be history. President Obama’s proposed spending plan for fiscal 2016 includes a six-year, $478 billion surface transportation budget financed largely by changes to the corporate tax code, writes Jeff Plungis on Bloomberg.com.  “Maintenance and replacement of the roughly 4 million miles of U.S. roads and 600,000 bridges are largely dependent on $50 billion a year in gasoline and diesel-fuel taxes that aren’t keeping pace with new projects,” says Plungis. With people driving less and more fuel efficient vehicles on the market, how will construction jobs be impacted if Obama’s proposal becomes reality?

http://www.bloomberg.com/news/articles/2015-02-02/obama-takes-new-shot-to-end-reliance-on-eisenhower-era-gas-taxes