Clinton touts $275B infrastructure plan to help create jobs

Hillary Clinton is making investments in the nation’s infrastructure a cornerstone of her job creation plan.

{mosads}During a major economic speech near Detroit on Thursday, the Democratic presidential nominee vowed to work with Congress to advance the biggest investment in new jobs since World War II.

“We will put Americans to work building and modernizing our roads, our bridges, our tunnels, our railways, our ports, our airports,” Clinton said. “We are way overdue for this, my friends. We are living off the investments that were made by our parents and grandparents.”

Clinton’s sweeping, five-year plan calls for $250 billion in funding for new and improved infrastructure, which she said would create jobs, stimulate the economy and help fix the nation’s crumbling roads and bridges.

President Obama made transportation projects the backbone of his economic stimulus package, which devoted $105 billion to infrastructure, partly in the form of competitive grants. But critics say the “shovel-ready” projects took too long to get off the ground and question whether the spending created as many jobs as promised. 

Clinton has been quick to emphasize the role that the private sector would play in her plan. The former first lady’s vision includes a national infrastructure bank “to get private funds off the sidelines.”

The bank would provide low-interest loans and other financial assistance to encourage investors to back national infrastructure projects.

“Here’s something that you don’t always hear enough of from Democrats: a big part of our plan will be unleashing the power of the private sector to create more jobs at higher pay,” Clinton said.

She said $25 billion in seed funding for the bank could spur more than $250 billion in spending on infrastructure projects throughout the country, as well as create higher paying jobs.

Her GOP rival, Donald Trump, has vowed to double what Clinton intends to spend on infrastructure. 

“I would say at least double her numbers, and you’re really going to need more than that,” Trump told Fox Business Network last week. “We have bridges that are falling down.”

But neither candidate has been very specific about how they would pay for their respective plans — a hurdle that has long tripped up Washington.

Clinton’s campaign website just says her proposal would be offset by “business tax reform,” while Trump said he would raise money for transportation projects through a fund financed by “people, investors and citizens.”

Tags Donald Trump Hillary Clinton
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