WATCH: President Trump Talks Infrastructure
“Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports, and railways gleaming across our very, very beautiful land,” President Donald Trump promised, in a speech delivered yesterday in Ohio.
Partnering with the private sector is a key element of the president’s infrastructure plan. The president included $200 billion in his proposed budget as part of a $1 trillion infrastructure investment plan. “Only one-fifth of infrastructure spending comes from the federal government,” the president noted. “The vast majority comes from states, localities, and the private sector.”
Infrastructure projects will be funded through a mixture of loans and grants under the president’s plan.
Trump also wants to reduce permitting time for projects from 10 years to two years and to slash regulations to speed up the decision making process.
The president emphasized maintaining inland waterways in his remarks, noting that inland waterways deliver 575 million tons of cargo, valued at $229 billion, and support 270,000 jobs and $30.9 billion in economic activity. According to the White House, US inland waterways require $8.7 billion in maintenance and suffer from a maintenance backlog.
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