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President Trump To Reveal Infrastructure Plan

President Trump To Reveal Infrastructure Plan

Those changes were not adopted by Congress or supported by the Obama administration.

And he said if local governments do engage in the Trump plan, it could result in an even heavier tax burden on residents in NY and other high-tax states where many taxpayers likely will pay more federal taxes because they can deduct only $10,000 in state and local taxes from their federal returns.

"It's also time to rebuild our crumbling infrastructure", he said in the address in January.

A senior administration official says that the proposal will have four objectives.

Administration officials have spent weeks talking about the infrastructure plan and trying to get some ideas and consensus from lawmakers on Capitol Hill and industry groups.

"We have a permitting process that takes so long that even when funds are adequate, it can take a decade to build critical infrastructure", a senior official noted. The Harvard CAPS-Harris poll surveyed 2,177 registered voters. If it proceeded normally, it would need the sign-off of six committees in the U.S. House and five in the Senate, and agreement between the two chambers. House Democrats had urged the administration to include school modernization in the plan, though early reports indicate it's not there.

Congress could still develop its own funding. White House officials see state and local revenues being generated from property taxes, user fees or sales taxes to boost local investments and achieve a higher share of federal matches. But the tax has remained 18.4 cents per gallon since 1993, and it hasn't kept pace with inflation as cars became more fuel-efficient.

"So what we're going to do is, for every decision that needs to be made, find the agency that has the best expertise in terms of making that decision, give them the authority to make that decision, and then have other agencies partner with them and execute on that decision that's been made", the White House official said. The precise trade-offs aren't designated.

The plan involves around $200 billion in federal funding over 10 years, to be taken from cuts to other programs, including $100 billion in incentives to state and local governments to stimulate spending on infrastructure including highways, ports, and airports reports Reuters.

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Trump's plan relies nearly entirely on funding from entities outside the control of the federal government.

The administration official said the $200 billion in funding will be included in the president's budget request, also out Monday, and said the administration plans to "pay for the $200 billion out of savings from other areas of the federal budget". The rural programme aims at that, the officials said.

Infrastructure projects also would be the next major focus for the Trump administration in its theme to reduce regulations.

None of the added spending will be offset by budget savings elsewhere or revenue increases, relying instead on government borrowing.

The federal debt is a "moral problem, not a financial problem", North Carolina Republican Rep. Mark Walker reportedly told members at a meeting Tuesday, before Congress voted on the $400 billion spending plan.

Tolls would be one way to spur private investment in roads or bridges.

Most U.S. indices and stocks have rallied over the past year since his election as president in anticipation of one of Trump's biggest plans as a part of his campaign. "You grow the economy through investments in our roads, rails and bridges by more safely and more efficiently connecting more people to more places, not by squeezing local governments and the riding and driving public".

"This is not a real infrastructure plan - it's simply another scam, an attempt by this administration to privatize critical government functions, and create windfalls for their buddies on Wall Street", DeFazio said. That one agency would work with the other federal regulators to reach a single permitting decision within 21 months, and permitting would begin within three months afterward. The proposal would expand eligibility for Pell grants and allow the transfer of professional licenses from part of the country to another.


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    The current permitting structure is overly concerned with preventing litigation and not enough on outcomes, the official said. The plan is created to spur $1.5 trillion in infrastructure spending but only includes $200 in federal funding .
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