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Trump Infrastructure Plan Would Be 80% Privately Funded
The $1 trillion Trump administration plan to refurbish U.S. roads, bridges and tunnels over the next 10 years would be “stimulated” by $200 billion in federal spending, according Transportation Secretary Elaine Chao.
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The $1 trillion Trump administration plan to refurbish U.S. roads, bridges and tunnels over the next 10 years would be “stimulated” by $200 billion in federal spending, according Transportation Secretary Elaine Chao.
She says the remaining $800 billion needed for the program would come from private capital. She envisions companies partnering with state and local governments in return for revenue generated by such sources as tolls.
The federal government currently supports improvements to the country’s infrastructure through the five-year, $305 billion Fixing America’s Surface Transportation Act passed in 2015 during the Obama administration, The Detroit News notes. That program is funded by the federal tax on gasoline and $70 billion that was transferred from other parts of the federal budget.
Chao is expected to answer questions about the Trump plan during a Senate committee hearing on Wednesday.
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