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US President Barack Obama, scrambling to jump-start job creation in a sluggish U.S. economy, announced on Monday a six-year plan to revamp ageing roads, railways and airport runways with an initial $50 billion investment.

Administration officials say Obama will ask the U.S. Congress on Wednesday to increase and permanently extend a tax credit for business research as a way of boosting job growth. The proposal would cost $100 billion over 10 years.

But economists are skeptical any measures Obama takes now will make a significant difference in the $13.2 trillion U.S. economy and point out that investments in infrastructure typically do not stimulate the economy quickly.

A senior administration official acknowledged the infrastructure plan will not immediately stimulate the economy and that the first jobs it creates will be in 2011.

Obama stressed the plan would not add to the record U.S. deficit, a key issue for voters, saying it would be fully paid for. "We're going to work with Congress to see to that," he said, according to foreign media.

Under the infrastructure plan, Obama is proposing to rebuild 150,000 miles (240,00 km) of roads; construct and maintain 4,000 miles (6,400 km) of rail; rehabilitate or reconstruct 150 miles (240 km) of runway and modernize the air traffic control system and; set up an infrastructure bank to leverage private, state and local capital to invest in projects.