President Obama said Wednesday he will ask Congress for $300 billion to update aging roads and railways, arguing that the taxpayer investment is a worthy one that will pay dividends by attracting businesses and helping put people to work.

Obama announced his plan at the Union Depot rail and bus station after touring a light rail maintenance facility. Funding for surface transportation programs expires later this year, and the White House says 700,000 jobs could be at risk unless Congress renews them.

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