Last month U.S President Barack Obama unveiled a $ 3.77 trillion fiscal-year 2014 budget proposal that includes $77 billion for the U.S Department of Transportation (US DoT), a 6 % increase compared with Fiscal Year 2012 enacted levels.
In his message given on 10 April, President Barack Obama said

“Over the last 4 years, we have begun the hard work of rebuilding our Nation’s infrastructure. We have built or improved over 350,000 miles of road and more than 6,000 miles of rail. And we have repaired or replaced over 20,000 bridges. But to compete in the 21st Century economy and become a magnet for jobs, we must do more. We need to repair our existing infrastructure, and invest in the infrastructure of tomorrow, including high-speed rail, high-tech schools, and self-healing power grids. These investments will both lay the foundation for long-term economic growth and put workers back on the job now”.

Building a 21st Century Infrastructure

The Budget invests in repairing U.S existing infrastructure and building the infrastructure of tomorrow, including high-speed rail, high-tech schools, and power grids that are resilient to future extreme conditions. These investments will both lay the foundation for long-term economic growth and put workers back on the job now.

Provides $50 billion for upfront infrastructure investments, including $40 billion for “Fix it First” projects, to invest immediately in repairing highways, bridges, transit systems, and airports nationwide; and $10 billion for competitive programs to encourage innovation in completing high-value infrastructure projects.

Boosts private investment in infrastructure by creating a Rebuild America Partnership.

• Establishes an independent National Infrastructure Bank to leverage private and public capital to support infrastructure projects of national and regional significance.
• Creates America Fast Forward (AFF) Bonds, building on the successful Build America Bonds program to attract new sources of capital for infrastructure investment.

Dedicates funding for the development of high-speed rail to link communities across the country, the Next Generation Air Transportation System (NexGen) to improve air travel and safety, and a robust long term increase in levels for core highways, transit, and highway safety programs.

Expedites infrastructure projects by modernizing the Federal permitting process to cut through red tape while creating incentives and better outcomes for communities and the environment. Establishes a new goal of cutting timelines in half for major infrastructure projects in areas such as highways, bridges, railways, ports, waterways, pipelines, and renewable energy.

• Highlights on Transportation funding are available at:
  http://uic.org/com/IMG/pdf/transportation.pdf

• Statement of Joseph C. Szabo, Administrator, Federal Railroad Administration, US DoT, before the Subcommittee on Transportation, U.S House of Representatives on 25 April 2013, is available at:
  http://uic.org/com/IMG/pdf/hhrg-113-ap20-wstate-szaboj-20130425.pdf

(Source: White House)