Long-Awaited $1.5 Trillion Infrastructure Plan Met With Mixed Reviews
President Donald Trump’s $1.5 trillion infrastructure plan was introduced Monday after months of anticipation.
The plan calls for $200B in federal funding to be distributed over the next decade. Within this will be a $100B grant competition fund provided to applicants who raise their own capital for infrastructure projects. The proposed plan is meant to spur another $1.3 trillion in investment from cities, states, private investors and other sources, Bloomberg reports.
The 53-page document also mentions the potential sale of several pieces of infrastructure owned by the federal government, including the following: Ronald Reagan Washington National Airport, Dulles International Airport, the George Washington Memorial Parkway and Baltimore-Washington Parkway, according to the New York Post.
While both Republicans and Democrats have agreed that the infrastructure plan needs work, the proposal has been met with mixed reviews.
The investment could potentially streamline future environmental reviews and permit processes that have been accused of holding up necessary infrastructure projects in the past. On the other hand, some have expressed concerns that shortening these processes could undercut environmental protections that ensure the security of endangered species and the maintenance of essential resources like clean water, Politico reports.
Some critics say the government's initial $200B investment — which would be paid for with budget cuts that have yet to be specified — will not be enough and have accused the plan of being a ploy to privatize government functions and create windfalls for those on Wall Street, according to Politico.
The proposal will be further discussed in a meeting with congressional leaders on Feb.14, Bloomberg reports.