Trump’s Commerce Pick: Infrastructure Leads to High-Paying Jobs, Nafta to Come Up Early
WASHINGTON — The co-author of President-elect Donald Trump’s infrastructure proposal told senators that enhancing transportation networks would produce high-paying jobs. On trade, he added that the new administration would quickly examine the North American Free Trade Agreement.
“I think people keep trying and will eventually succeed at finding new and better ways to facilitate those transfers from one mode of transportation to another,” billionaire investor Wilbur Ross told the Senate Commerce Committee on Jan. 18.
“Anything that can be done to facilitate transportation will help the economy just in and of itself. Let alone, infrastructure spending is a very high labor content, generally around 44%, so it's a very good way to provide high-paying jobs to ordinary people,” Ross added.
Weeks before the election, Ross and economist Peter Navarro assisted the Trump campaign in proposing that $1 trillion in investments over 10 years would be achievable through tax breaks totaling $137 billion. The tax breaks would be for companies aiming to invest in big-scale projects. Trump promised to unveil an infrastructure package during his first 100 days in office. On Jan. 17, his vice president, Mike Pence, told the U.S. Conference of Mayors to expect a “big” infrastructure package from the administration.
Opponents of the Ross-Navarro plan argue that companies looking for a return on their infrastructure investments would focus on setting up tolls across urban markets with high traffic volumes and ignore desolate rural regions.
When pressed about Nafta, Ross told senators the matter is “logically the first thing for us to deal with. We ought to solidify relationships in the best way we can, in our own territory before we go off to other jurisdictions.”
“I think that should be and hopefully will be, if I'm confirmed, a very, very early topic in this administration,” he added.
If confirmed, Ross would succeed Penny Pritzker, a billionaire entrepreneur. Nafta is an accord negotiated by Canada, Mexico, and the United States.
Trucking industry executives represented by American Trucking Associations are largely opposed to adding tolls to existing freight corridors. ATA leaders also have stressed support for Nafta.
