Up to $1.5 trillion in federal funding should be used to target infrastructure projects across the country, President Trump said in his first State of the Union speech.
The President said he wants to provide $200 billion in federal grants for a wide variety of road, bridge, airport, and port improvement projects, while also targeting $100 million in incentive grants designed to encompass a combination of state, local, and private company investment.
Federal appropriations, said Trump, should be “leveraged by partnering with state and local governments and, where appropriate, tapping into private sector investment.”
The administration has additionally called for spending $50 billion on rural infrastructure projects, and is pushing for greater private sector investment in infrastructure construction and upgrading projects.
The President additionally wants to shorten the time it takes to secure a government permit for an infrastructure project, noting that legislation must “streamline the permitting and approval process—getting it down to no more than two years, and perhaps even one.”
The exact details of Trump’s infrastructure plan are expected to be released in mid-February.
By Garry Boulard
