The plan will invest about US$50 billion in roads, railways and airports as well as high-speed rail and the creation of an infrastructure bank.

US infrastructure has long been considered underfunded and receives poor grades from government agencies.

The move comes amid signs that the US economy is faltering.

Late last week, the US Labor Department announced that the US economy had lost a further 54,000 jobs, while the unemployment rate rose to 9.6 percent, from 9.5 percent in July.

Mr Obama also called for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.

The proposals would require congressional approval, which analysts say, is uncertain amid concerns about the size of the federal deficit.

The infrastructure announcement marks the start of a week in which Mr Obama will focus on the economy, seen as the most important issue for voters in November’s congressional elections.