President Barack Obama speaks in the Rose Garden of the White House in Washington, Wednesday, Aug. 31, 2011, to urge Congress to pass a federal highway bill. (AP Photo/Carolyn Kaster) (Carolyn Kaster)
(AP) WASHINGTON — A national infrastructure bank that would entice private investors into road and rail projects could be a major part of the jobs package that President Barack Obama hopes will finally bring relief to the unemployed.
The White House hasn't divulged the contents of the package that Obama is to unveil in an address to Congress next week. But the president has pushed the idea of an infrastructure bank in recent speeches and has praised Senate and House bills that create such a government-sponsored lending institution.
The big question is whether the bank, which would need time to organize, could have any real impact on the jobs situation in the coming election year.
But Obama has expressed confidence that an infrastructure bank could be an immediate catalyst for construction industry jobs.
