Senate Kills Obama's $60 Billion Infrastructure Plan


 UPDATED:
11/3/2011 4:15:00 PM
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Senate Republicans killed legislation backed by President Obama to spend $60 billion on building and repairing roads and other infrastructure.

The vote passed 51-49, short of the 60 votes required under Senate rules to debate the measure.

Opposed by 47 Republicans and one Democrat and Independent, the bill would have provided an immediate $50 billion investment in roads, bridges, rail lines, airports and transit systems.

It also called for a $10 billion “infrastructure bank� to use private and public capital for longer-term projects and would have been financed by a 0.7% surcharge on incomes over $1 million.

Separately, Democrats killed a measure offered by Republicans to extend federal highway funding for two years, by a 53-47 vote.

Federal highway spending authority is scheduled to expire in February.

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