President Trump promised $1.5 trillion for our crumbling infrastructure. But who's going to pay for it?
Anyone who's lost a hubcap to a pothole or sat through their umpteenth subway delay knows our nation badly needs a major infrastructure investment to repair our nation's highways, bridges, ports, railways, waterways, and more. And that's just repairs -- the country needs even more money to ensure we're ready for new innovations like electric cars, driverless cars, 5G mobile services, and connected "smart cities."
President Trump promised a $1 trillion investment as recently as his 2018 State of the Union, but his White House's new plan
White House's new plan instead seeks to cut the federal government's support, encourage private investors to fill the gap, and offer little guidance to state and local governments left with the bill. State and local leaders, especially in rural and underserved areas, fear the plan would leave them behind. The business community is worried too -- they can't afford for our country's trade and travel arteries to crumble, and they'll need a 21st century-ready transportation and freight system to remain competitive.
Businesses, the White House, and state and local governments have all turned to Congress for a solution. But can Congress scrape together more than $1 trillion without major cuts to existing programs or raising taxes?
In this client update, Ferox Strategies Chief of Staff Lucia Alonzo untangles:
- How does Congress fund transportation and infrastructure now?
- What's in the White House plan, and could it work?
- What are Congress' options for funding the plan?
- When could Congress pass a new infrastructure package?
Click through to read the report!