The Future of Infrastructure
A robust and modern infrastructure keeps our nation’s economy moving – literally. Investing in infrastructure is a critical component of America’s economy, which links businesses, consumers, and everyone in between. Earlier this month, President Trump unveiled his infrastructure plan to address a much needed renovation on our nation’s transportation systems. The plan calls for leveraging $200 billion in federal funds over the next ten years to generate an estimated $1.5 trillion in total infrastructure spending to improve roads, bridges, railways, airports and other projects. I agree with the President, it is time to address decline of our nation’s infrastructure. President Trump’s proposed plan calls for investment in five categories. First, $100 billion will be dedicated to an Infrastructure Incentive Program.
With this program, states and local governments would receive grants, if they can provide sustained local funds to support the bulk of the project. Second, the plan proposes that $50 billion would be spent specifically for a Rural Infrastructure Program, through block-grants to states to support infrastructure development in areas with a population of fewer than 50,000 people. Third, the plan as proposed would dedicate $20 billion to a Transformative Projects Program, defined as infrastructure projects that have significant risk, but that could generate revenue, provide net public benefits, have a positive impact on the nation or regional area, and for which there is currently limited private-sector funding. Fourth, it would dedicate $20 billion to reinforcing existing public infrastructure lending programs, and fifth, it would provide $10 billion to create a federal revolving capital fund to acquire new real property when it is cheaper than leasing
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