President Trump agrees to USD 2trn infrastructure spending plan

30 April 2019 - 12:00 am UTC

Senate Majority Leader Charles E. Schumer (D-NY) and Speaker of the House Nancy P. Pelosi (D-CA) said that US President Donald J. Trump has agreed to spend USD 2trn to upgrade US infrastructure.

Schumer characterized the meeting as “constructive” in a press conference after the 30 April meeting. However, Pelosi and Schumer did not reveal key details, such as how officials would pay for the plan.

Schumer said that he and Pelosi asked Trump for his ideas on how to pay for the plan, and revealed that they will meet again in three weeks to discuss funding ideas.

Trump’s ideas and support for the bill will be particularly important to win the support of the Republican-controlled Senate, Schumer said at the press conference.

In a 29 April letter sent to Trump, Pelosi and Schumer said they looked forward to hearing Trump’s ideas on “how to pay for this package to ensure that it is big enough to meet our country’s needs.”

The letter also called for the bill “should go beyond transportation, and into broadband, water, energy, schools, housing and other initiatives.”

The bill should also “be a major jobs and ownership boost for the American people – manufacturers, laborers, contractors, and women, veteran and minority-owned businesses.” 

Marc Lemon, director of the infrastructure team for the Trump transition team, and a partner in Womble Bond Dickinson, said it is encouraging that Trump and Democratic Party congressional leaders are talking about spending US 2trn on infrastructure.

“Everything is on the table” as far as methods to pay for the plan, Lemon said, except for a rollback of the Tax Cuts and Jobs Act of 2017, which Trump signed into law in December 2017, which Schumer has said he would require to be partially rolled back in exchange for support on a federal fuel tax increase.

Lemon said he believes that public-private partnerships will have a potential role in the infrastructure plan, as both Democrats and Republicans will be looking for ways to leverage federal dollars and “maximize every dollar spent utilizing it as seed money for various projects.”   

 

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