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GOP Backing Trump's $1 Trillion Infrastructure Plan — for Now

Image: GOP Backing Trump's $1 Trillion Infrastructure Plan — for Now

Donald Trump (AP Photo)

By    |   Thursday, 17 Nov 2016 07:42 AM

Congressional Republicans are backing President-elect Donald Trump's $1 trillion proposal to improve America's infrastructure. But they warn support from conservatives still depends on how the plan is paid for and whether it includes other GOP priorities, The Hill reported.

"There's an interest among our members, frankly, on both sides, in doing something on infrastructure," Sen. John Thune, R-S.D., chairman of the Commerce, Science and Transportation Committee, told reporters.

"But my guess is, if that gets done, it probably hitches a ride on tax reform. I don't know that just an infrastructure bill on its own, as a stand-alone, would go anywhere."

Trump has not yet announced details of the proposal, which calls for $550 billion worth of infrastructure investment paid for by bonds, as well as a $1 trillion package financed by tax credits to private investors, according to The Hill.

"We are going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals," Trump announced on election night.

Steve Mnuchin, who is considered a candidate for Treasury secretary, said Trump was exploring creating an infrastructure bank — an idea the president-elect had opposed in the past.

New York Magazine reported infrastructure banks would help fund projects via long-term bonds.

It added Trump's plan involved no direct federal spending but is designed to inspire private investment by offering federal tax breaks to prospective investors.

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Congressional Republicans are backing President-elect Donald Trump's $1 trillion proposal to improve America's infrastructure.
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Thursday, 17 Nov 2016 07:42 AM
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