President Obama's American Jobs Act, invests a total of $447 billion to create and maintain jobs around the country in our fragile economy. The Jobs Act has four main components:
- Tax Cuts for Small Businesses
- Rebuilding and Modernizing America
- Pathways Back to Work
- Tax Relief for Workers and Families
The President claims that all of these initiatives will be paid for as part of the long-term deficit reduction plan, which the White House is referring to as the fifth component of the Act. Of the total amount invested, $140 billion would go towards the second component of the Jobs Act, rebuilding America's infrastructure, as well as rehabilitating vacant and foreclosed homes, and innovative financing for projects. Of this $140 billion, about $50 billion would be for transportation activities, including highway, highway safety, public transit, intercity passenger rail, high-speed rail, and aviation. Here is how the $50 billion breaks down among various transportation modes and programs:
| ACTIVITY | DOLLARS |
| Highways | $27 b |
| Public Transit | $9 b |
| Intercity Rail (Amtrak) | $2 b |
| Airports | $2 b |
| High-Speed Rail (HSIPR) | $4 b |
| NextGen (Air Traffic Modernization) | $5 b |
| TIGER & TIFIA | $1 b |
| TOTAL | $50 b |
The Jobs Act stipulates that the $4 billion for high-speed rail be directed to the Federal Railroad Administration for the High-Speed Intercity Passenger Rail (HSIPR) Program and used for capital assistance to develop high-speed and intercity rail corridors. The $2 billion for intercity rail projects would be directed to Amtrak to fund capital projects on the national passenger rail network that repair, rehabilitate, or upgrade railroad assets or infrastructure or expand passenger rail capacity, which can include the rehabilitation of rolling stock. However, the money cannot be used by Amtrak to pay for operating expenses.
An additional $10 billion would be provided as seed money for a National Infrastructure Bank. Another $60 million would ensure workers were hired locally and provide employment and training opportunities for minorities, women, and socially and economically disadvantaged individuals. The President is also pursuing initiatives to expedite environmental review and permitting processes in order to speed the time it takes to complete a project and deliver its benefits to local communities.
The White House has also published tear sheets on the impact that the American Jobs Act will have on individual states. See the table below for a breakdown of the impact that the Jobs Act will have on states on the Northeast Corridor.
| STATE | DOLLARS | JOBS |
| Connecticut | $409,800,000 | 5,300 |
| District of Columbia | $387,300,000 | 5,000 |
| Delaware | $134,300,000 | 1,700 |
| Massachusetts | $850,700,000 | 11,100 |
| Maryland | $625,500,000 | 8,100 |
| Maine | $138,700,000 | 1,800 |
| New Jersey | $1,325,100,000 | 17,200 |
| New York | $2,982,200,000 | 38,800 |
| Pennsylvania | $1,373,300,000 | 17,900 |
| Rhode Island | $162,400,000 | 2,100 |
| TOTAL | $8,389,300,000 | 109,000 |
If the President's Jobs Act passes, states along the Northeast Corridor could expect to receive about $8.39 billion in federal funds for immediate transportation investments, which would support over 109,000 jobs.
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