President Obama's latest jobs proposal aims to do a lot more than boost the economy.

The $50 billion investment in roads, railways, and runways is just the first step in large-scale reform of the nation's transportation sector and accompanying earmarks.

"It will change the way Washington spends your tax dollars," Obama said on Monday.

Congress has to approve the plan before it can be implemented, and a contentious debate is expected over some of the president's sweeping changes to the sector. The plan is vague on details, leaving room for lawmakers to hash out the details.

Industry groups have welcomed the proposal, although some are concerned about how it will be funded. The administration has suggested that money could come from rolling back subsidies for oil and gas companies, according to CQ.

Here are seven items in Obama's plan:

* Infrastructure: Create an infrastructure bank that would dole out funds to regional transportation projects.

* High-speed rail: Build a new rail system to boost the nation's infrastructure and increase its competitiveness globally.

* Aviation: Invest in a new satellite-based air traffic control system.

* Earmarks: Move away from state-based earmarks to performance-based spending on larger, interstate projects.

* Energy: Reduce dependency on oil and energy sources that emit greenhouse gases.

* Livability: Link affordable housing with more public transportation options.

* Grant money: Streamline transportation funding by awarding it on a competitive basis, much like the administration has done for education.

-- Ambreen Ali, Congress.org