Obama wore his traditional dark suit, brick-red tie and broad grin at Friday’s signing ceremony for the the bill Congress was pressured into passing last week. It will rebuild the country’s roadways, extend the National Flood Insurance Program and maintain student loan interest rates that were set to double.
“This bill will keep thousands of construction workers on the job rebuilding our nation’s infrastructure,” Obama told the crowd of about 250 people in the East Room of the White House. “These steps will make a real difference in the lives of millions of Americans.”
The bipartisan bill, which takes effect immediately, authorizes $105 billion to be spent on road and transportation projects over the next 27 months. Two unemployed construction workers stood behind Obama as he signed the bill.
Obama has been quick to tout it as a job producer, and he urged Congress for months to pass the bill, which he said will “have an immediate impact on the economic security of American families.”
At the last minute, just before a July 1 deadline for loan interest rates to increase and a July 31 deadline for the flood insurance program to expire, the House and Senate came to an agreement.
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