Obama promotes PortMiami plan

He proposed US$4bn in new infrastructure loans and grants, while repeating a call for a US$10bn “infrastructure bank” to attract investment for projects that will have the greatest impact on the economy.

“There are few more important things we can do than create jobs right now and strengthen our economy over the long haul, rebuilding the infrastructure that powers our businesses and economy,” he said.

The new port highway tunnel under Biscayne Bay is a Public-Private Partnership, with both taxpayers and private investors funding the project, a point noted by President Obama, “construction workers are on the job digging this tunnel, doing great jobs, getting good pay”.