Sen. Michael Bennet (D-Colo.) on Wednesday announced that he would oppose President Barack Obama’s latest stimulus proposal, just hours before the president was scheduled to unveil the package of spending and tax proposals.

Obama on Wednesday afternoon was scheduled to give a speech detailing the infrastructure-heavy $50 billion package.

In a statement released by his office, Bennet said that while he would back a handful of tax-credit proposals that could benefit Colorado, he would not support Obama’s broader plan.

“I will not support additional spending in a second stimulus package. Any new transportation initiatives can be funded through the Recovery Act, which still contains unused funds. Public-private partnerships that improve our infrastructure are a good idea, but must be paid for, should not add a dime to the deficit, and should be covered by unused Recovery Act dollars,” Bennet said.

Bennet, who is facing a difficult election this fall, is the latest Democrat to throw cold water on Obama’s plan. On Tuesday, House Majority Leader Steny Hoyer (Md.) cast doubt on the likelihood Congress would approve the package this year, saying that, “It will be very difficult to get a very broad agenda through … because Republicans’ obstructionism has, in effect, not allowed us to do some of the job-creating actions that we want.”