House Democratic Leader Richard Gephardt (D-Mo.) laid out an economic plan that calls for spending more than $100 billion on school construction.

“I am offering a five-point plan to restore economic growth,” Gephardt says prior to the November election. “If we can gain control of the House of Representatives, I believe this could be the foundation of a New Economic Agenda for a New House. An economic strategy devoted to restoring growth and jobs to our economy.”

Some believe Gephardt will run for president in 2004.

However, House Majority Whip Tom DeLay (R-Texas) rejected Gephardt's plan, calling it a return to tax-and-spend.

“Gephardt's plan is simpler than it sounds,” DeLay said. “Gephardt's just dressing-up the decades-old Democrat tax-and-spend strategy that's been proven to dampen growth and strangle economic recovery. In its simplicity and wrong-headedness, it's nothing short of Mondale-esque.”

The Gephardt plan includes $125 billion in school construction, domestic anti-terrorism infrastructure and health care assistance; $75 billion in one-time rebates and tax cuts immediately to working families and company investments.

“We need policies devoted to one central purpose: creating economic growth with more jobs and higher wages for Americans,” Gephardt says “If we do that, then we are truly working in the interests of all Americans.

“My plan calls for a $25 billion investment in school construction. We can use bonds to leverage this money to maximum effect and we should give states and local school districts the flexibility to decide whether to build or repair, without creating new federal bureaucracies.

“I suggest we spend an additional $25 billion to help states protect their infrastructure from terrorism. That money could go to local police, fire fighters, public health workers — and it could help secure our water resources, our power plants, and our telecommunications lines from terrorist attack.

Year-to-Date Construction Contract Values
Unadjusted Totals, in Millions

	9 Months 2002	9 Months 2001	% change
Nonresidential Building	$116,927	$130,702	-11
Residential Building	186,328	169,115	+10
Nonbuilding Construction	82,081	83,624	-2
Total Construction	$385,336	$383,441	0

Monthly Construction Contract Values
Seasonally Adjusted Annual Rates, in Millions

	September	August	% change
Nonresidential Building	$134,057	$152,959	-12
Residential Building	247,879	246,700	0
Nonbuilding Construction	101,613	109,750	-7
Total Construction	$483,549	$509,409	-5

Source: F.W.Dodge