House Speaker Paul Ryan Says Infrastructure Funding Is High Priority Next Year
Determining the most efficient way for boosting funds for new and existing infrastructure projects will be a top priority for the Republican-led U.S. House next year, Speaker Paul Ryan (R-Wis.) said Dec. 5.
In a "60 Minutes" interview, the speaker emphasized relying on investors in the marketplace for an infrastructure funding playbook, as well as state officials who would decide how best to finance large-scale projects in the coming years. He neither endorsed President-elect Donald Trump’s infrastructure plan nor did he commit to a funding strategy for an infrastructure plan.
“Well, I think, that should be decided by the marketplace; that should be decided by the needs in the particular states and communities as to what is built or rebuilt. And it’s going to be one of our high priorities that we’re going to be addressing,” Ryan said.
The speaker and other GOP leaders have suggested an overhaul of tax laws would serve as a vehicle to advance a sustainable funding structure for infrastructure projects. A tax reform proposal has yet to be unveiled. Meanwhile, a federal account designed to assist states with such projects is projected to run out of funds in a few years.
Trump pledged to send Congress within the first 100 days of his administration a 10-year, $1 trillion investment proposal that would rely on $137 billion in tax credits for investors.
