The Obama Agenda

President-elect Barack Obama laid out an ambitious agenda during his successful campaign. NSSGA reviews specific agenda items of interest to the aggregates industry below:

Foremost on this list is transportation. Among the highlights are the creation of a "national infrastructure policy that recognizes that we must upgrade our infrastructure to meet the demands of a growing population, a changing economy and our short and long-term energy challenges." In addition, Obama and Vice President-elect Joe Biden state that "a robust federal infrastructure investment program today will help strengthen the U.S. economy and provide at least one million more U.S. jobs at a time when the housing and construction industries are slowing." Finally, Obama and Biden advocate the creation of a National Infrastructure Reinvestment Bank that would receive an infusion of $60 billion over 10 years in federal funds to finance transportation infrastructure projects across the nation by expanding and enhancing federal investments. According to their plan, these projects would create nearly two million new direct and indirect jobs as well as stimulate approximately $35 billion per year in new economic activity.

With regard to business, the Obama agenda focuses on small businesses and provides ideas on how to hold down healthcare costs as well as increase available capital for small and start-up businesses. One such proposal is the elimination of all capital gains taxes on such businesses in order to encourage innovation and job creation. From a tax standpoint, businesses that start or expand operations in the United States will see a reduction in their corporate income tax rate. On the environment, Obama has indicated that he will make combating global warming a top priority and will reinvigorate the U.S. Environmental Protection Agency.