President Trump Introduces Incomplete Infrastructure Plan That’s $200 Billion Not $1.5 Trillion
BUILDING A STRONGER AMERICA: PRESIDENT DONALD J. TRUMP’S AMERICAN INFRASTRUCTURE INITIATIVE
Read President Trump’s infrastructure principles here.
“We will build gleaming new roads, bridges, highways, railways, and waterways all across our land. And we will do it with American heart, and American hands, and American grit.” – President Donald J. Trump
BUILDING AMERICA’S INFRASTRUCTURE: Today, President Donald J. Trump released his legislative goals to rebuild our Nation’s crumbling infrastructure. The six principles include:
· $200 billion in Federal funds to spur at least $1.5 trillion in infrastructure investments with partners at the State, local, Tribal, and private level.
· New investments will be made in rural America, which has been left behind for too long.
· Decision making authority will be returned to State and local governments.
· Regulatory barriers that needlessly get in the way of infrastructure projects will be removed.
· Permitting for infrastructure projects will be streamlined and shortened.
· America’s workforce will be supported and strengthened.
STIMULATE INFRASTRUCTURE INVESTMENT: President Trump’s plan will lead to at least $1.5 trillion in investments to rebuild our failing infrastructure and develop innovative projects.
· $200 billion in Federal funds will spur at least $1.5 trillion in new infrastructure investments.
o Federal infrastructure spending will promote State, local, and private investments and maximize the value of every taxpayer dollar.
· Of the $200 billion, $100 billion will create an Incentives Program to spur additional dedicated funds from States, localities, and the private sector.
o Applications for the Incentives Program will be evaluated on objective criteria, with creating additional infrastructure investment being the largest factor.
o The Incentives Program will promote accountability, making Federal funding conditional on projects meeting agreed upon milestones.
· $20 billion will be dedicated to the Transformative Projects Program.
o This program will provide Federal aid for bold and innovative projects that have the potential to dramatically improve America’s infrastructure.
o The program will focus on projects that could have a significant positive impact on States, cities, and localities but may not attract private sector investment because of the project’s unique characteristics.
· $20 billion will be allocated to expanding infrastructure financing programs.
o Of the $20 billion, $14 billion will go to expanding a number of existing credit programs: TIFIA, WIFIA, RRIF, and rural utility lending.
o $6 billion will go to expanding Private Activity Bonds.
· $10 billion will go to a new Federal Capital Revolving Fund, which will reduce inefficient leasing of Federal real property which would be more cost-effective to purchase.
· A new fund will allow some incremental revenues from energy development on public lands to pay for the capital and maintenance needs of public lands infrastructure.
INVEST IN RURAL AMERICA: Rural America’s infrastructure has been left behind for too long, and President Trump’s plan will make sure it is supported and modernized.
· $50 billion of the $200 billion in direct Federal funding will be devoted to a new Rural Infrastructure Program to rebuild and modernize infrastructure in rural America.
o The bulk of the dollars in the Rural Infrastructure Program will be allocated to State governors, giving States the flexibility to prioritize their communities’ needs.
o The remaining funds will be distributed through rural performance grants to encourage the best use of taxpayer dollars.
INCREASE STATE AND LOCAL AUTHORITY: President Trump’s proposal will return decision-making authority to State and local governments, which know the needs of their communities.
· Funds awarded to State and local authorities, such as through the Incentives Program and the Rural Infrastructure Program, will be allocated to infrastructure projects they prioritize.
o This empowers States and localities to make more infrastructure investment decisions and prioritize projects based on the needs of their communities
· The plan will expand processes that allow environmental review and permitting decisions to be delegated to States.
· The plan will also allow Federal agencies to divest assets that can be better managed by State or local governments or the private sector.
ELIMINATE REGULATORY BARRIERS: The President’s plan would eliminate barriers that prevent virtually all infrastructure projects from being efficiently developed and managed.
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