Trump unveils infra plan, budget for 2019
US President Donald Trump on Monday unveiled his vaunted infrastructure plan which is expected to lead to spending $1.5 trillion on refurbishing and upgrading the country’s roads, bridges and airports.
His administration was later scheduled to announce its budget for 2019, which sets aside $18 billion for a wall along the Mexico border.
Both measures will have to be legislated by Congress.
The infrastructure plan proposes $200 billion in federal funding to states, cities and local governments, who will be expected raise the rest of the financing, which is estimated to add up to $1.5 trillion over the next 10 years. The plan has been described as a financing scheme that shifts the burden of funding infrastructure on to local governments, who would likely raise the money through taxes, fee, toll and fee of services.
“We’re going to get the roads in great shape,” Trump said at a White House event to announce his infrastructure plan. “Washington no longer will be a roadblock to progress.”
According to a fact-sheet released ahead of Trump’s speech, the White House said $100 billion will go as incentives to states and local governments, and the rest will be split up among credit schemes and funds aimed towards spurring infrastructure investments. A block grant of $50 billion will go to rural infrastructure that “has been left behind for too long”.
Around $21 billion will be proposed in the 2019 budget. The budget proposals will also include $23 billion for border security, of which $18 billion will be set aside for the border wall.