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The White House
Office of the Press Secretary
For Immediate Release

Robert Wolf, UBS Americas, President, UBS Investment Bank and Member of the President's Council on Jobs and Competitiveness Backs American Jobs Act

“The Jobs Council has examined the important need for and potential benefits of fixing our nation's crumbling infrastructure.  We are encouraged that one of the President's areas of focus in his American Jobs Act speech was on infrastructure as a means to creating jobs.  Macroeconomic models indicate that $1 of infrastructure spending boosts GDP by approximately a 1.6 multiplier which has a larger effect on GDP and employment than most other kinds of spending. In fact, the Milken Institute estimates that every $1 billion spent on infrastructure creates over 25,000 jobs.”