President Barack Obama announced Wednesday another effort to boost the still-sinking economy.
Obama outlined a new economic proposal — which includes spending $50 billion in infrastructure investments and a permanent extension of research and development tax credits.
The plan aims to create jobs and sustain long-term economic growth by investing federal funds in transportation infrastructure including roads, railways and runways.
The proposed funds could funnel down to states like North Carolina — where the unemployment rate is 9.8 percent — and create jobs in the construction sector.
“There are great needs for our transportation infrastructure,” said N.C. Sen. Charles Albertson, D-Duplin in a phone interview.
Although Albertson said he has yet to fully analyze the bill’s potential for the state economy, he said he expects it to improve the economy nationwide.
“And any time you can put people to work, it has a positive effect on unemployment rates,” he said.
It remains to be seen how the proposed funds will directly affect the state’s economy and the unemployed.
UNC economics professor Michael Salemi said people might suffer waiting for the economy to improve.