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Wednesday
Jun072017

Trump to Outline Infrastructure Plan That Includes Rural Funding

Bloomberg Politics

 June 7, 2017

U.S.President Donald Trump will outline his vision on Wednesday for an infrastructure plan that includes federal grants to rural areas as well as to states and localities to create additional funding for projects, according to a preview of the speech provided by the White House.

Trump is scheduled to speak in Cincinnati as part of what the White House has billed as a week-long effort to formally launch the initiative to deliver the $1 trillion in infrastructure investment he has promised to upgrade crumbling roads, bridges, airports and other assets.

The president proposes allocating $200 billion in federal funding over 10 years to spur at least an additional $800 billion in spending by states, municipalities and the private sector. The federal funds will be divided into four categories:

* A mixture of grants and loans to “transformative’’ projects, with Trump’s proposal to place the U.S. air-traffic control system under a private, non-profit corporation as an example.

* Grants to rural areas to repair bridges, roads, and waterways. Critics of Trump’s approach have raised concerns that rural areas would not be able to use tolls or fees needed to attract private investment.

* Enhanced loan programs, with the Transportation Infrastructure Finance and Innovation Act, or TIFIA, as an example of how federal funds can be used with state, local, and private dollars to fund projects.

* Incentive programs with grants to states and municipalities to create additional funding for infrastructure.

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