Trump To Unveil Long-Awaited $1.5 Trillion Infrastructure Plan

Trump To Unveil Long-Awaited $1.5 Trillion Infrastructure Plan

They said the plan would budget $200 billion over 10 years to leverage the bigger investment by state and local governments, with the $200 billion of new spending offset with unspecified cuts elsewhere in the president's 2019 budget, which also is being released Monday. After passing legislation that fiscal conservatives widely panned Friday, finding additional money even for something with bipartisan support like infrastructure could be a daunting task.

During his previous State of the Union address last month, U.S. President Donald Trump stated that every federal dollar should be used in partnership with the state and local governments which includes the need to tap into the private sector investment appropriately in fixing the deficit of infrastructure in the country.

The federal government traditionally provided 80% of funding for qualified highway construction.

On Capitol Hill, Republicans overseeing the transportation panels said they would await the White House's guidance before proceeding on what will likely be a lengthy legislative process.

The federal debt is a "moral problem, not a financial problem", North Carolina Republican Rep. Mark Walker reportedly told members at a meeting Tuesday, before Congress voted on the $400 billion spending plan.

The official explained that "virtually 100 percent of major infrastructure in the US requires some form of federal permitting", but the federal government funds just about 14 percent of infrastructure costs, and owns an even smaller percentage. Signatories included the National Governors Association, the U.S. Conference of Mayors, the National League of Cities, the National Conference of State Legislatures and the American Association of State Highway and Transportation Officials.

"While we certainly aren't opposed to talking about Gateway, we're not going to start the discussion of rebuilding our entire nation with a single - albeit large - project, especially not one where 90 percent of the benefits go to local transit riders", the White House official said. That tax of 18.4 cents a gallon for unleaded, 24.4 cents a gallon for diesel, hasn't been raised in 25 years and because of improvements in fuel efficiency and inflation, it raises less money now than it did when last raised in 1993. Mulvaney said that in his previous job as a fiscally-conservative congressman representing SC, he would "probably not" have voted for the bill. "In fact, Congress passed a law week that basically undid the budget before it was even submitted".

Budget director warns interest rates may 'spike' on deficit

Under Trump's plan, NY and New Jersey would have to turn to local government and private sources of funding after Trump administration officials past year rejected claims that the Obama administration committed to use federal funds for half of Gateway's cost.

Trump's program will be debated by six committees in the House and five in the Senate. It will have to pass another by March 23 to keep the government open through September 30. Trump has promised to build the border wall to keep out illegal immigrants and drug smugglers.

In addition, Trump said that Congress should move to streamline the process for those wishing to build new projects.

On Monday, the administration will put more flesh on the bones, including ideas for cutting the length of the permitting process to two years.

To cut down on delays and interagency conflicts, the plan would assign one agency to take the lead on permitting for each project, known as "One Agency, One Decision". The administration wants to make it easier for tradespeople to transfer their licenses from one state to another.

"This in no way, shape, or form should be considering a take-it-or-leave-it proposal", said a official.


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