Trump: Infrastructure Plan Will Ride on Public Funds, Too
President Trump addressing Congress on Feb. 28. Image via WhiteHouse.gov
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President Trump addressing Congress on Feb. 28. Image via WhiteHouse.gov
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In his address to a joint session of Congress on Feb. 28, President Trump called for a $1-trillion infusion of public and private investment to repair and expand the nation’s infrastructure. He devoted just about one minute of his hour-long speech to promoting that initiative, but it was the first time the president indicated that public— not just private— financing would be needed to fund his infrastructure proposal.
Invoking President Dwight Eisenhower, who championed the building of the Interstate Highway System in the 1950s, Trump said “the time has come for a new program of national rebuilding. America has spent approximately $6 trillion in the Middle East — all the while our infrastructure at home is crumbling. With this $6 trillion, we could have rebuilt our country twice, and maybe even three times if we had people who had the ability to negotiate.”
Trump said he will be “asking Congress to approve legislation that produces a $1-trillion investment in infrastructure of the United States — financed through both public and private capital — creating millions of new jobs.”
What remains to be heard is exactly how the administration expects to pay for the lavish infrastructure outlay promised by the president. Before moving onto other issues, Trump noted further only that his infrastructure proposal will be “guided by two core principles: buy American and hire American.”
Despite the lack of details given, the American Trucking Associations was pleased for the attention paid to infrastructure in this major policy speech by the new president. “ATA was pleased to hear President Trump again sound the call to address our nation’s need to improve our transportation infrastructure,” said ATA President and CEO Chris Spear in a statement to HDT.
“Trucks move 70% of our nation’s …Read the rest of this story
