This week is “Infrastructure Week” and before it ends, let’s learn about this plan that The White House has presented to rebuild America’s infrastructure.
The White House has held events all week to promote and educate on this $1 trillion plan to fix the United States infrastructure. Additionally, The White House broke down how those federal dollars will be allocated. There would be $100 billion to let states and local entities prioritize their own infrastructure needs, $25 billion to grants for rural infrastructure projects, and $15 billion to incentivize projects. The summary doesn’t explain where the rest of the money would go. However earlier in the week, it was identified a fourth category which is loans for regionally or nationally significant projects under an existing federal financing program as well as a skill-based workforce education to train 1 million apprentices over two years. President Trump himself spoke about the details to pay for infrastructure improvements which include $200 billion in tax breaks and thus creating a return in investment of $1 trillion for construction in the next years.
According to the president, a new era is commencing in America and he said “It is time to recapture our legacy as a nation of builders –and to create new lanes of travel, commerce and discovery that will take us into the future.” The infrastructure plan is based on the president’s budget for 2018. In January, Senate Minority Leader Chuck Schumer rolled out his version of a $1 trillion infrastructure plan that would create 15 million jobs over the next 10 years. Since then, McConnell has said he looks forward to working with the administration to “protect and improve” infrastructure that “serve people and jobs across the country.”