Today President Obama will announce a proposal that includes a $50 billion "upfront investment" in roads, transit, rail and airport runways, and also provides clues about the administration's priorities for the next surface transportation program (such as moving away from earmarking to performance-based funding).  It's part of a larger proposal to stimulate the economy and create jobs in the short term.

A White House official said “This is not an ... immediate jobs plan. This is a six-year reauthorization that’s front-loaded."  Here's an analysis and summary of the WH release and fact sheet:

What would the $50B fund?
The funds would be used to rebuild 15,000 miles of roads, construct and maintain 4,000 miles of railway and rehabilitate or reconstruct 150 miles of airport runways.

What's the funding source for the plan?
White House officials suggest the funding may come from closing a number of special tax breaks for oil and gas companies. It should come as no surprise that a fuels tax increase apparently is still off the table.

What's the overall funding level of the six-year proposal?
WH officials would say only that "the initial $50 billion would represent a substantial chunk" of a six-year program. An Infrastructure Bank, which would loan funds and leverage public funds to attract private investment, is proposed and would likely be a significant part of the funding picture.

What might be controversial about the proposal?
This will surely cause heartburn for some stakeholders, joy for others: "The integration of high-speed rail on an equal footing into the surface transportation program to ensure a sustained and effective commitment to a national high speed rail system over the next generation." The WH document doesn't discuss transit as much as other modes, and while that may cause discomfort for some, I wouldn't read anything negative into it.

What are the prospects for enacting the proposal?
The proposals would require congressional approval. The Administration says the proposal will be paid for and not increase the deficit; but with many polls showing a heightened concern about federal spending and the deficit, it's questionable whether Congress would approve new spending so close to Election Day.

Even if Congress could pass a bill during the few remaining weeks of session, the upfront investment almost certainly would create or sustain jobs in early 2011, not in 2010.

What's the Administration's "elevator statement" on the plan?
The plan "would reform the way America currently invests in transportation, changing our focus to enhancing competition, innovation, performance, and real analysis that gets taxpayers the best bang for the buck, while moving away from the earmarks and formula debates of the past. The goals are to rebuild 150,000 miles of roads — renewing our commitment to the backbone of our transportation system. . . . Construct and maintain 4,000 miles of rail — enough to go coast-to-coast. . . . Rehabilitate or reconstruct 150 miles of runway — while putting in place a NextGen system that will reduce travel time and delays.

What's the response from Republican Congressional Leadership?
They've already announced their opposition. The House Republican leader, John Boehner, said "We don't need more government 'stimulus' spending. "We need to end Washington Democrats' out-of-control spending spree, stop their tax hikes, and create jobs by eliminating the job-killing uncertainty that is hampering our small businesses." Senate Republican Leader Mitch McConnell said the plan "should be met with justifiable skepticism" because it would raise taxes, while Americans are "still looking for the 'shovel-ready' jobs they were promised more than a year ago" in the original stimulus program.

Continue reading to learn about some of the the administration's "meaningful reforms" in its long-term framework, and to see links to more information.

The administration's "long-term framework includes meaningful reforms":

• The establishment of an Infrastructure Bank to leverage federal dollars and focus on investments of national and regional significance that often fall through the cracks in the current siloed transportation programs;

•The integration of high-speed rail on an equal footing into the surface transportation program to ensure a sustained and effective commitment to a national high speed rail system over the next generation;

•Streamlining, modernizing, and prioritizing surface transportation investments, consolidating more than 100 different programs and focusing on using performance measurement and “race-to-the-top” style competitive pressures to drive investment toward better policy outcomes.

• Expanding investments in areas like safety, environmental sustainability, economic competitiveness, and livability – helping to build communities where people have choices about how to travel, including options that reduce oil consumption, lower greenhouse gas emissions, and expand access to job opportunities and housing that’s affordable.

"President Obama unveils $50 billion road, rail plan," Politico

"Obama to Call for $50 Billion Spending on Public Works," NYT

"Obama calling for more infrastructure spending," Associated Press