President Barack Obama heads to St. Paul, Minn., on Wednesday to announce a new competition for grant funding meant to spur investment in infrastructure projects, according to information provided by the White House.
The president will call on cities and states to apply for $600 million in new TIGER discretionary grants, which were originally created as part of the 2009 Recovery Act and reauthorized in the Consolidated Appropriations Act signed earlier this year.
Officially called the Transportation Investment Generating Economic Recovery program, according to the White House TIGER grants have already funded $3.5 billion worth of projects in all 50 states, the District of Columbia and Puerto Rico.
This new round of grants will be targeted at transportation projects that effect job creation, economic competitiveness and economic development. Applications can also include proposals to fund planning grants for the first time since 2010. The deadline for submissions is April 28.
Obama will urge Congress to take up a new transportation reauthorization proposal worth $302 billion, including $150 billion in new revenue achieved by reforming the nation's corporate tax structure. According to a fact sheet distributed by the White House, the proposal would include "closing unfair tax loopholes, lowering tax rates, and making the system more fair."
This new one-time source of revenue would be dedicated to funding surface transportation projects.