Obama Budget: $50 Billion for Infrastructure, Including High-Speed Rail

President Barack Obama’s budget, which was delivered to Congress two months late on Wednesday, will propose $50 billion for infrastructure spending which includes various high-speed rail projects. 

The White House’s budget “dedicates funding for the development of high-speed rail to link communities across the country.”

According to the White House, the budget also includes funding for “high-tech schools” and for climate change projects for power grids to make them “resilient to future extreme conditions.” 

Obama’s budget proposes $40 billion for “Fix it First” projects. It also proposes creating a National Infrastructure Bank and issuing “America Fast Forward” bonds for more “infrastructure investment.”