U.S. President Trump to Show Infrastructure Plan Next Week

U.S. President Donald Trump is planning to reveal next week the details of his long-awaited plan to generate at least $1.5 trillion in infrastructure improvements over 10 years, according to a White House official.

President Donald Trump with the Flag of USA
President Trump to unveil his infrastructure plan next Monday.

The official also said that President Trump will issue “infrastructure principles, which will outline a plan” to increase infrastructure and call for cutting regulatory burdens to speed approval for new projects.

Last month, a report stated that the administration’s plan would call for $200 billion in new federal funding, offset by unspecified spending cuts, including $100 billion in cost sharing payments for state and local projects and $50 billion dedicated for rural projects.

Meanwhile, the remaining $50 billion will be split among “transformative” projects like high-speed trains and funds for federal transportation lending projects.

The White House is also planning to unveil its budget proposal next week, said the official.

D.J. Gribbin, a White House official, confirmed last month that the administration would not look for new revenue to pay for infrastructure, but rather seek to pay for it with spending cuts.

Last week, President Trump called on Congress to “to produce a bill that generates at least $1.5 trillion for the new infrastructure investment we need. Every federal dollar should be leveraged by partnering with state and local governments and, where appropriate, tapping into private-sector investment.”

The plan is also aiming to update environmental reviews and make it easier to create highways and other projects and allow for new tolling on roadways and give states more flexibility to use toll revenue.

Last month, a leaked document was released, which an administration official confirmed was “largely accurate,” disclosed the plans of the administration to lessen the federal cost sharing for projects for not more than 20 percent of the costs from the traditional 80 percent share.

Democrats want the Trump administration to approve to significant new spending to pay for infrastructure upgrades and have called the smaller cost-sharing proposal a non-starter.

The top Democrat on the House Transportation and Infrastructure Committee, Representative Peter DeFazio, stated that President Trump should not call for “slashing real investments to states and local governments, pushing the responsibility off federal balance sheets, cutting existing transportation programs to pay for Wall Street and foreign investors to toll our roads.”

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U.S. President Trump to Show Infrastructure Plan Next Week U.S. President Trump to Show Infrastructure Plan Next Week Reviewed by Trade12 Reviews on 6:20 AM Rating: 5

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