President Donald Trump’s long-awaited infrastructure plan will be released in early January.
During his campaign, Trump promised to introduce a $1 trillion proposal within his first 100 days in office, with a subsequent plan to follow by the third quarter. But the plan was tabled when attempts to overhaul the healthcare system and a focus on tax reform took precedence, Bloomberg reports.
Under the proposal, an estimated $200B would be spent in federal funds over a 10-year period in order to incentivize another $800B in state, local and private sector spending, according to an administration official.
The infrastructure plan will allegedly allocate federal dollars to four segments that include cash for states and localities, formula block grants for rural areas, federal lending programs and capital for transformational work like high-speed trains in tunnels.
While some are cautiously optimistic about the proposal, others have expressed discontent with the plan as well as the timeline, saying the inability to include it in the tax bill was a missed opportunity, Bloomberg reports.
The new plan, which will outline in detail a list of principles for upgrading infrastructure across the U.S., is expected to be published prior to the State of the Union address on Jan. 30.
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