Trump's infrastructure plan

Will Trump’s Infrastructure Plan Unleash the Next Boom?

US President Donald Trump recently delivered a US$1.5 trillion tax break to corporate America.

And despite naysayers’ doubts, some of that money is already trickling down to the lower and middle-income workers.

The next big campaign promise he has yet to fulfil is his massive infrastructure plan.

But Trump has just unveiled that long-awaited infrastructure plan. It asks the US Congress to authorise US$200 billion over 10 years to stimulate US$1.5 trillion in improvements paid for by states, localities and private investors.

The plan, which administration officials acknowledge faces a tough path ahead, would reshape how the federal government funds roads, bridges, highways and other infrastructure projects. If it comes to fruition, many Americans could face higher local taxes, fees and tolls.

In remarks at the White House on Monday, Trump cited ‘the critical need to rebuild America’s crumbling infrastructure’ and said his proposal would ‘spur the biggest and boldest infrastructure investment in American history’. Trump said:

Our roads are in bad shape

And we’re going to get the roads in great shape. And, very important, we’re going to make our infrastructure modernised. And we’re really way behind schedule. We’re way behind other countries.’

The plan does not offer as much new federal funding as Democrats wanted. Nor does it directly address how the federal government will find the money it does call for. The administration called the proposal a starting point for negotiations. 

Trump has made his infrastructure plan one of his top legislative priorities this year, ahead of the November mid-term congressional elections in which Democrats will try to take control of congress from his fellow Republicans.

Legislation for Trump’s infrastructure proposal would need 60 votes for passage in the 100-seat Senate. But with Republicans holding only a 51–49 majority, they would need some Democratic support for passage. With strong Democratic opposition expected, the plan faces an uphill battle.

The Democratic National Committee stated:

Trump’s plan is just another giveaway to corporations and wealthy developers at the expense of American workers, and it fails to address some of the most pressing infrastructure needs our country faces’.

The president was meeting with state and local officials including the governors of Wisconsin, Louisiana, Virginia and Maine on Monday, and was due to meet with congressional leaders on Wednesday on the proposal.

The problem the states have and local leaders have with funding the infrastructure is horrendous,’ Trump said at the White House.

Trump is scheduled to visit the Orlando, Florida area on Friday to try to sell the plan to the public.

The Australian Tribune with RAW

The Australian Tribune with RAW

The Australian Tribune with RAW

Comments: 2

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  1. With environmental and Climate Change/Global warming considerations now being taken off the table, as well as the majority of the funding to come from the private sector.
    Interesting times ahead, especially considering the stated positions of the Global Re Insurers whether affordable insurance coverage can be obtained – and remember these will be Privately owned. Is the Tax Payer going to have to provide indemnity – Privatise the profits socialise the losses when the tax take is greatly reduced

    Interesting years ahead, especially for the investment community.
    Who enjoys burnt fingers