Milwaukee, Wisconsin (CNN) -- President Barack Obama, in a bid to create jobs and boost economic growth, called on Congress on Monday to pass a $50 billion plan to renew the country's transportation infrastructure. His address was the first of two speeches the president is scheduled to make this week to frame his administration's ongoing response to the recession, less than two months ahead of midterm elections in which Democratic majorities in the House and Senate are in jeopardy. "Today, I am announcing a new plan for rebuilding and modernizing America's roads, and rails and runways for the long term," said Obama, who spoke on Labor Day in Milwaukee, Wisconsin -- a state with competitive gubernatorial and U.S. Senate races. "We used to have the best infrastructure in the world. We can have it again," he said to loud cheers from a crowd of union workers. The proposal envisions -- over a six year period -- rebuilding 150,000 miles of roads, 4,000 miles of rail and 150 miles of airport runways. It also would include modernizing the nation's air traffic control system in an effort to reduce delays and travel time. "This will not only create jobs immediately. It's also going to make our economy hum over the long haul," said the president. Obama hopes to work with Congress to enact an up-front investment of $50 billion -- an amount a White House statement said would represent a significant chunk of new spending on infrastructure. The investment would then be paired with what the administration called a framework to improve transportation spending. The long-term plan would include the establishment of an Infrastructure Bank, which would leverage federal dollars and focus on projects that could deliver the the biggest bang for the buck, Obama said. The president stressed the need for Democrats and Republicans to work together on the transportation initiative, which would need to be approved by Congress. 
What is the framework to improve transportation spending?
The long-term plan would include the establishment of an Infrastructure Bank, which would leverage federal dollars and focus on projects that were the most efficient