State of the Union; Addresses Infrastructure Plan
In his State of the Union Address, President Trump talked about his Infrastructure Plan, calling on Congress to come together to give Americans a safe, fast, reliable and modern infrastructure that our economy needs.
Trump emphasized that the bill would generate at least $1.5 trillion for the new infrastructure investment and that every dollar would be leveraged by partnering with State and local Governments, and where appropriate, would tap into private sector investment to permanently fix the infrastructure deficit.
The funding approach is consistent with what White House Officials shared back in December; a 10-year, $200 billion plan meant to leverage about $1 trillion worth of overall infrastructure investment expected to go towards the nation’s roads and bridges. The goal is to generate hundreds of billions more from local governments and private investors for U.S. road, rail, water and utility work.
Trump also remarked that a major problem today is the approval processes and said that any infrastructure bill must address the need to streamline the permitting and approval process; reducing it down to two years or less.
Trump’s Infrastructure plan is expected to be issued by early spring. For any bill to move forward, it will need to be a bipartisan effort to get the necessary 60 votes from the Senate. Currently, the potential of a plan going forward looks promising as both parties appear in support of such a Bill.