Senate Democrats Offer $1 Trillion Infrastructure Plan
Responding to President Trump’s insistence he will present Congress with a $1 trillion infrastructure investment proposal this spring, the Senate Democrats proposed an infrastructure plan of their own.
Senate Minority Leader Chuck Schumer (D-N.Y.) on Jan. 24 unveiled a blueprint aimed at modernizing the country’s transportation network over 10 years, claiming the measure would create about 15 million jobs.
Specifically, the plan would authorize $210 billion to projects for roads and bridges, $180 billion for transit programs, $110 billion for water infrastructure systems, and $50 billion for railways. Speaking to reporters, Schumer did not specify on the measure’s funding structure. He did, however, emphasize the measure did not provide tax credits for developers.
A plan President Trump’s advisers promoted in October called for providing $137 billion in tax credits for the private sector to achieve a $1 trillion investment in infrastructure over 10 years.
“This bill would mean three things for this country: jobs, jobs, and more jobs. And good paying jobs to boot,” Schumer said. “As this bill hopefully moves forward, Democrats are going to fight for environmental and labor protections. We will not support tax credits for developers. We will insist that labor and raw materials come from America.”
Republicans in control of Congress are unlikely to advance the Democrats’ infrastructure measure. Senate Majority Leader Mitch McConnell (R-Ky.) has indicated he would oppose an infrastructure package that is not paid for, and contributes to the national debt.
The national association representing roadbuilders applauded the Democrats but called for bipartisanship.
“Addressing the nation’s critical transportation needs in a meaningful way will require real, recurring, dedicated revenue streams that are complemented by private investment,” said Pete Ruane, president and CEO of the American Road and Transportation Builders Association. “For that reason, transportation revenue and tax reform should be an integral component of the comprehensive tax reform package being developed by the administration and Congress. President Trump’s leadership is key to making that happen.”
