The long-awaited infrastructure plan from the White House is taking shape and could be part of President Trump’s State of the Union speech on Jan. 30, according to Reuters. CNN, however, reports that the plan will not likely be finished by that time due to the president’s travel schedule.
The proposal, Reuters said, would include $200 billion in federal funding split into four separate pools. The overall plan is designed to encourage private investment, which officials Reuters talked with suggested could be $1.35 trillion.
The government’s share of funding, with a final amount still in flux, would include $100 billion for cost-sharing projects with local governments, $50 billion for rural projects, and $25 billion each for infrastructure loan projects and “transformative projects,” such as high-speed rail. The money would be spent over 10 years.
There has been no indication on how the White House would pay for the program.
Earlier this week, U.S. Chamber of Commerce President Thomas Donohue called for a 25-cent per gallon fuel tax increase to fund infrastructure projects.
Did you know?
Factory production climbed 7% on an annualized rate in the fourth quarter and 1.3% for all of 2017, according to preliminary data from the Federal Reserve.
“As an industry, our primary goal was not only to rally behind an important cause but also to have a real impact. The multi-faceted approach taken by the truckstop and travel plaza industry illustrates that private enterprise can make a consequential difference in the fight against human trafficking.”
- Lisa Mullins, NATSO Foundation president
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An infrastructure proposal from the White House may be ready within weeks, but initial reports suggest it will be for $200B over 10 years and geared toward attracting private dollars. The funding, at just $20B per year before private investment, is just a drop in the bucket to the nearly $1T many experts believe we need to fix the nation’s infrastructure. According to Reuters, the proposal may not even be an increase over the current yearly investment from the government.
Hammer down everyone!
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