Billionaire political activist as well as ex-hedge fund manager Tom Steyer on Monday blasted President Donald Trump’s vision for overhauling the nation’s aging infrastructure.
Steyer, the Democratic megadonor behind the “Need to Impeach” Trump effort, said the $0 billion in federal infrastructure spending which’s being talked about by the White House won’t create jobs or boost the economy.
“doing an investment in of itself isn’t a Great thing,” Steyer told CNBC’s “Squawk Alley.” “What’s a Great thing is actually a smart investment, things which actually move the country forward.”
Earlier Monday, the White House unveiled Trump’s long-awaited infrastructure plan which includes $0 billion in federal funding over a decade to incentivize brand new projects in hopes of stimulating $1.5 trillion in brand new investment.
Steyer said Trump’s plan could move the U.S. backward. The billionaire, who said he had not read the current infrastructure bill in full, was particularly critical of a provision from the White House plan which might streamline the environmental permitting process to accommodate a wide range of infrastructure projects.
“Getting rid of environmental protections which ensure people’s health as well as longevity. is actually which a Great investment?” he asked. “which doesn’t sound like a Great investment to me.” Instead, Steyer said he might like to see a bipartisan infrastructure bill which massively upgrades the nation’s power grid as well as improves broadband internet access.
The infrastructure bill “has to be sustainable,” he said. “We’ve got to build a clean infrastructure which will let This specific country compete successfully for decades to come as well as be the source of innovation as well as job creation which we’ve always been.”
Steyer, founder as well as president of NextGen America, launched a digital petition in October calling for Trump’s impeachment. the idea’s been signed by nearly 4 million people, according to the petition website.
Last month, Steyer also said he might push $30 million into an effort to boost millennial voter turnout in This specific year’s midterm elections to help Democrats take over the House.