Earlier this month Trump focused on rebuilding the country's infrastructure in his State of the Union address. There, he called for spending $1.5 trillion to improve highways, bridges, waterways, airports and rail and seaport terminals.
President Trump will release his much-anticipated infrastructure plan on Feb. 12, Bloomberg reported.
According to a White House official, the plan will include between 30 and 40 pages summarizing President Trump's strategy for creating new investment, consolidating the process for project review and permitting to two years or less and funding projects in the rural U.S., Bloomberg reported.
Earlier this month Trump focused on rebuilding the country's infrastructure in his State of the Union address. There, he called for spending $1.5 trillion to improve highways, bridges, waterways, airports and rail and seaport terminals. However, to make this plan work, the Trump administration must first face three distinct challenges, including:encouraging Congress to work together to pass the legislation that would allow for the infrastructure plan's implementation;finding a way to streamline the regulatory process to get infrastructure projects up and running faster; andfiguring out the best way to target federal funding across the nation.
The Trump administration has been looking at setting aside at least $200 billion over the next decade for infrastructure improvements. Of that money, about 50 percent would be allocated for incentives used to prompt state and local governments, as well as the private sector, to raise their own capital for these projects. Bloomberg reported. In addition, 25 percent of federal funds would go to aid rural parts of the country in paying for “transformational projects” that are unable to get enough funding from private sources.
According to a Fact Sheet recently released by the White House, the Trump administration plans to keep these four key principles in mind as it further develops its infrastructure plan:“Make Targeted Federal Investments.” According to the fact sheet, federal funds should go toward “projects that address problems that are a high priority from the perspective of a region or the Nation, or projects that lead to long-term changes in how infrastructure is designed, built and maintained.”“Encourage Self-Help.” The administration would like to support state and local governments who have, or who plan to, put in place methods of raising their own funds to pay for infrastructure costs. “Align Infrastructure Investment with Entities Best Suited to Provide Sustained and Efficient Investment.” Here, the administration would like to finds ways to deliver services more efficiently by getting out of some of these and then using the funds saved elsewhere, and more. “Leverage the Private Sector.” According to the fact sheet, “the private sector can provide valuable benefits for the delivery of infrastructure, through better procurement methods, market discipline, and a long-term focus on maintaining assets.” Although the administration recognizes that public-private partnerships won't fix everything for the nation's infrastructure, it believes these alliances can help some of the biggest, most “regionally significant” projects move forward.