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Obama announces initiative for private infrastructure investment

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WILMINGTON, Del. — While criticizing Congress for not passing a long-term transportation spending plan, President Barack Obama stood before the closed I-495 bridge Thursday and announced a new initiative to encourage private-sector investment in infrastructure.

“First-class infrastructure attracts investment and it creates first-class jobs,” Obama said. “Unfortunately right now, our investment in transportation lags behind a lot of other countries.”

The president’s push for transportation improvements comes as the federal Highway Trust Fund is set to run out of money.…

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