Home / World News / Trump’s big infrastructure plan has a lot of detail on everything but how to pay for it – The Denver Post

Trump’s big infrastructure plan has a lot of detail on everything but how to pay for it – The Denver Post

WASHINGTON– President Donald Trump is poised to unveil a long-awaited plan Monday that aims to stimulate $1.5 trillion in new spending on the country’s ailing infrastructure over the coming decade, but many lawmakers in both parties say the president isn’t providing a viable way to pay for his initiative.

A year in the making, the proposal is an attempt to fulfill a marquee campaign promise and would rely heavily on states, localities and the private sector to cover the costs of new roads, bridges, waterways and other public works projects.

The plan calls for investing $200 billion in federal money over the coming decade to entice other levels of government and the private sector to raise their spending on infrastructure by more than $1 trillion to hit the administration’s goal of $1.5 trillion in new funding over 10 years. It also seeks to dramatically reduce the time required to obtain environmental permits for such projects.

White House aides say Trump is open to a new source of funding to cover the federal share – such as raising the federal gas tax for the first time since 1993 – but Congress will have to make such decisions.

For now, the White House is suggesting that lawmakers cut money from elsewhere in the budget, including some existing infrastructure programs. That prospect seems unlikely given that Congress just last week reached a bipartisan deal to spend significantly more funds over the coming two years.

“I think it’s just dead on arrival. . . . It’s not a plan that will really work,” said Rep. Daniel Lipinski, D-Ill., a member of the House Problem Solvers Caucus that works on bipartisan solutions. “Are Republicans going to embrace any kind of funding plan besides stealing from Peter to pay Paul within the federal government?”

In a statement Sunday, Rep. Bill Shuster, R-Pa., chair of the House Committee on Transportation and Infrastructure, said legislation “needs to be bipartisan, fiscally responsible and make real long-term investments in our nation.”

He has repeatedly called for a sustainable source of funding. At the recent GOP retreat in West Virginia, he floated the idea of raising the gas tax. It’s “the elephant in the room,” Shuster said.

In a briefing over the weekend for reporters, senior White House aides stressed that Trump’s plan is intended to be an opening bid on legislation that will require bipartisan cooperation to pass.

“This in no way, shape or form should be considered a take-it-or-leave-it proposal,” said one senior official, who requested anonymity to provide a preview of the president’s plan. “This is the start of a negotiation – bicameral, bipartisan negotiation – to find the best solution for infrastructure in the U.S.”

About brandsauthority

Check Also

AstraZeneca and Oxford Say Vaccine Is Up to 90 Percent Effective

AstraZeneca and the University of Oxford announced on Monday that their inexpensive, easy-to-produce coronavirus vaccine …

Leave a Reply

%d bloggers like this: