Joined by Rep. Oberstar, DFL-Endorsed Candidate Offers “A Real Stimulus Package” To Bolster Middle-Class Economy, Repair Infrastructure, Invest In Energy-Efficient Transportation Options

Franken: “We Will Rebuild Our Roads And Bridges, We Will Rebuild Our Middle-Class Economy, And We Will Build A New Energy Economy.”

SAINT PAUL [09/01/08] – Joined by Rep. Jim Oberstar, chairman of the House Transportation and Infrastructure Committee, DFL-endorsed U.S. Senate candidate Al Franken today announced a new proposal for a “real stimulus package” that would help repair our nation’s crumbling infrastructure, invest in energy-efficient transportation options, and create nearly 150,000 new jobs.

Al Franken:

“I’m so proud to be joined and supported by Jim Oberstar, a great champion for transportation and infrastructure whose leadership has inspired my commitment to this issue. And I’m so proud to offer a stimulus proposal that would improve Minnesota’s infrastructure, lead us towards energy-efficient transportation options, and, most of all, do what a stimulus plan is SUPPOSED to do: create good-paying Minnesota jobs. It’s time to put America back to work – and it’s time to give Minnesota’s middle-class economy a boost.”

Rep. Oberstar:

“Al Franken understands the issues and knows that we need to invest in the future of America. He understands the importance of diversifying our region’s economy and will fight for the needs of working families and invest in good paying jobs.”

Franken’s plan:

Nearly 150,000 jobs. According to the Department of Transportation, each $1 billion invested in transportation development creates over 47,500 jobs and over $1.3 billion in worker income – and up to $6 billion in additional gross domestic product.

$2 billion for deferred infrastructure projects. Franken would make $2 billion available to fund these projects immediately. Projects would be selected for funding through a competitive grant process, and to be eligible, must be able to begin within 90 days of receiving funds.

$1 billion to help build rail systems. Franken would make $1 billion available in grants to states or groups of states for capital costs of facilities and equipment necessary to improve multi-modal transportation options like the Midwest Regional Rail Initiative.

Fully paid for. In the long term, these investments will go far beyond paying for themselves. But we don’t need to increase the deficit to get this stimulus plan enacted if we pass some of Franken’s other proposals – like revoking $7 billion in Iraq reconstruction funds that have been obligated but not spent.

This entry was posted on Monday, September 1st, 2008 at 15:21 and is filed under Press Releases. You can follow any responses to this entry through the RSS 2.0 feed.