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the plan was not detailed
Posted on: March 23, 2021 at 14:26:39 CT
Ace UNC
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kinda like his governing by tweet
WASHINGTON ― President Donald Trump is unveiled his long-delayed infrastructure proposal on Monday, an initiative meant to spur investment in the nation’s crumbling roads, bridges, and waterways. However, the plan is believed to be a far cry from his populist campaign rhetoric, in which he promised to unleash a grand national renewal not seen since the days of Dwight Eisenhower.
While the plan includes a shiny topline number ― a $1.5 trillion investment in infrastructure ― the substance of the package is decidedly less than meets the eye. The proposal seeks to turn just $200 billion in direct federal spending over the next decade into nearly seven times that number by leveraging state and local tax dollars as well as private investment. The American Society of Civil Engineers, meanwhile, says the U.S. needs to invest $4.59 trillion in infrastructure by 2025.
Trump himself seems skeptical of the scheme, according to NBC News. Indeed, in private conversations with lawmakers last year, the president repeatedly criticized the plan’s core concept of using public-private partnerships to finance infrastructure projects.
The administration’s proposal would theoretically spur additional investment in infrastructure by sharply reducing federal cost-sharing for projects to no more than 20 percent of the costs, down from the traditional 80 percent. The massive reduction in federal dollars would place a greater onus on state and local officials to find revenue to fund the construction of new projects ― which in many cases would likely mean allowing more tolls or usage fees to create revenue streams to lure in private investors.
The task is especially difficult for rural communities, where fewer people are available to help spread the cost of new infrastructure. It is likewise tough to attract investors for projects not directly used by consumers, like dams and waterways. The federal government, for example, provided at least half of the funding to New York’s new Tappan Zee Bridge.
Edited by Ace at 14:28:28 on 03/23/21
WASHINGTON ― President Donald Trump is unveiled his long-delayed infrastructure proposal on Monday, an initiative meant to spur investment in the nation’s crumbling roads, bridges, and waterways. However, the plan is believed to be a far cry from his populist campaign rhetoric, in which he promised to unleash a grand national renewal not seen since the days of Dwight Eisenhower.
While the plan includes a shiny topline number ― a $1.5 trillion investment in infrastructure ― the substance of the package is decidedly less than meets the eye. The proposal seeks to turn just $200 billion in direct federal spending over the next decade into nearly seven times that number by leveraging state and local tax dollars as well as private investment. The American Society of Civil Engineers, meanwhile, says the U.S. needs to invest $4.59 trillion in infrastructure by 2025.
Trump himself seems skeptical of the scheme, according to NBC News. Indeed, in private conversations with lawmakers last year, the president repeatedly criticized the plan’s core concept of using public-private partnerships to finance infrastructure projects.
The administration’s proposal would theoretically spur additional investment in infrastructure by sharply reducing federal cost-sharing for projects to no more than 20 percent of the costs, down from the traditional 80 percent. The massive reduction in federal dollars would place a greater onus on state and local officials to find revenue to fund the construction of new projects ― which in many cases would likely mean allowing more tolls or usage fees to create revenue streams to lure in private investors.
The task is especially difficult for rural communities, where fewer people are available to help spread the cost of new infrastructure. It is likewise tough to attract investors for projects not directly used by consumers, like dams and waterways. The federal government, for example, provided at least half of the funding to New York’s new Tappan Zee Bridge.
Edited by Ace at 14:28:28 on 03/23/21
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the plan was not detailed - Ace AU - 3/23 14:26:39
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