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Obama Proposes Infrastructure Spending in State of the Union

In his State of the Union address Tuesday, President Obama called for money that was previously being spent for wars in Iraq and Afghanistan to be used to rebuild America’s infrastructure.

“So much of America needs to be rebuilt,” Obama said. “We’ve got crumbling roads and bridges; a power grid that wastes too much energy; an incomplete high-speed broadband network that prevents a small business owner in rural America from selling her products all over the world.”

While Obama provided no specific figures in his speech, Reuters reports the Congressional Budget Office estimates spending would be nearly $440 billion less from 2012 to 2021 as a result of the wars winding down.

Obama also said he will soon sign an executive order that would eliminate red tape for public construction projects. Additionally, the White House indicated infrastructure plans would include more investments in high-speed railways.

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