Infrastructure Plan Will Favor States Most Prepared
President Donald Trump pushed his White House team last week to craft a plan for $1 trillion in infrastructure spending that would pressure states to streamline local permitting, favor renovation of existing roads and highways over new construction, and prioritize projects that can quickly begin construction.
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The winter issue of Ag Innovator magazine took an in-depth look at infrastructure challenges “We’re not going to give the money to states unless they can prove that they can be ready, willing and able to start the project,” Trump said at a private meeting with aides and executives that news outlets such as the Wall Street Journal were invited to observe. “We don’t want to give them money if they’re all tied up for seven years with state bureaucracy.”
Trump said he was inclined to give states 90 days to start projects. He expressed interest in building new high-speed railroads, inquired about the possibility of auctioning the broadcast spectrum to wireless carriers, and asked for more details about the Hyperloop, a project envisioned by Tesla founder Elon Musk that would rapidly transport passengers in pods through low-pressure tubes.
The president called for a $1 trillion infrastructure plan last month in his address to a joint session of Congress and added that the projects would be financed through public and private capital.
The White House was considering a repatriation tax holiday to generate about $200 billion in funding, but other sources also were being considered, a senior administration aide said.
Source: Wall Street Journal