Trump to Congress: Approve $1 Trillion Infrastructure Plan
In his first address before Congress, President Trump announced his intention to ask Congress to back an infrastructure plan that would generate a $1 trillion to rebuild roads and bridges.
The legislation would be “financed through both public and private capital — creating millions of new jobs,” Trump said on Feb. 28. “This effort will be guided by two core principles: Buy American, and Hire American.”
The president’s announcement mirrored, somewhat, his calls during the campaign for the need to rebuild and modernize infrastructure. Trump repeatedly indicated he would push a 10-year, $1 trillion proposal that would rely on tax credits for investors.
Chris Spear, president and CEO of American Trucking Associations said his group is ready to help formulate a sustainable infrastructure funding system.
“ATA was pleased to hear President Trump again sound the call to address our nation’s need to improve our transportation infrastructure. Trucks move 70% of our nation’s goods – more than half of our GDP – on a system of highways and bridges that is now on life support,” Spear said.
Republican leaders in Congress have yet to announce a path forward for advancing a massive infrastructure funding plan. House Transportation and Infrastructure Committee Chairman Bill Shuster (R-Pa.) did agree with Trump that infrastructure nationwide is in need of upgrades.
“Our infrastructure is what ties all of these things together. The committee looks forward to working with the president and the Secretary of Transportation to improve our infrastructure and strengthen our economy," Shuster said.
While Trump’s infrastructure announcement was short on details, groups representing freight industry stakeholders continued to call for a long-term highway funding plan.
"When it comes to infrastructure, strategic focus should be the key,” said Pete Ruane, president and CEO of the American Road and Transportation Builders Association. “The biggest return on investment would be found by modernizing America’s Economic Expressway — the Interstate System and its connections to the nation’s major ports, inland waterways, rail hubs, airports and pipelines. Right now, it is woefully underperforming, costing every American citizen and business time and money."
