U.S. President Donald Trump plans to unveil details of his long-awaited plan to generate at least $1.5 trillion in infrastructure improvements over 10 years next Monday, a White House official said on Tuesday.
Trump will issue “infrastructure principles, which will outline a plan” to boost infrastructure along with also call for cutting regulatory burdens to speed approval for fresh projects, the official said, speaking on condition of anonymity.
Reuters reported which month which the administrations plan will call for $0 billion in fresh federal funding, offset by unspecified spending cuts, including $100 billion in cost-sharing payments for state along with also local projects along with also $50 billion dedicated for rural projects.
The remaining $50 billion will be largely split among “transformative” projects such as high-speed trains along with also funds for federal transportation lending projects, Reuters reported last month.
The White House separately plans to unveil its budget proposal on Monday as well, the official said.
Last month, White House official D.J. Gribbin confirmed in remarks to mayors the administration will not seek fresh revenue to pay for infrastructure, although rather seek to pay for which with spending cuts.
Trump last week called on Congress “to produce a bill which generates at least $1.5 trillion for the fresh infrastructure investment we need. Every federal dollar should be leveraged by partnering with state along with also local governments along with also, where appropriate, tapping into private-sector investment.”
The proposal will also aim to streamline environmental reviews along with also make which easier to build highways along with also some other projects along with also allow for fresh tolling on roadways along with also give states more flexibility to use toll revenue.
A leaked document released last month, which an administration official confirmed was “largely accurate,” disclosed the administration plans to reduce federal cost-sharing for projects to no more than 20 percent of the costs via the traditional 80 percent share.
Democrats want the Trump administration to agree to significant fresh spending to pay for infrastructure upgrades along with also have called the smaller cost-sharing proposal a non-starter.
Representative Peter DeFazio, the top Democrat on the House Transportation along with also Infrastructure Committee, said last week Trump should not call for “slashing real investments to states along with also local governments, pushing the responsibility off federal balance sheets, cutting existing transportation programs to pay for Wall Street along with also foreign investors to toll our roads.”