Obama Touts Infrastructure Spending During Visit to Port of Miami

President Obama promoted the benefits of infrastructure spending during a visit to the Port of Miami on Friday, pushing for more money in a plan he said would attract private money for roads, bridges and other transportation projects, the Associated Press reported.

The president gave details while visiting the port, which is spending $2 billion in upgrades with both government and private money, AP said.

Obama proposed spending $4 billion on two infrastructure programs that award loans and grants, and setting higher caps on “private activity bonds” to encourage more private spending on highways and other infrastructure projects, AP said.

Alan Krueger, chairman of the White House Council of Economic Advisers, told reporters the initiatives will cost $21 billion, not including the $40 billion for the president’s proposed “Fix-It-First” plan, AP reported.