Trump’s Infrastructure Plan ‘Hopes to Unleash’ Private Investments, Secretary Chao Says
WASHINGTON — A $1 trillion infrastructure funding plan President Donald Trump intends to unveil would seek to connect private investors with officials managing big-ticket projects, the country’s top transportation officer told port executives April 5.
“In addition to traditional mechanisms, the president’s plan hopes to unleash the potential for private investment in infrastructure by incentivizing public-private partnerships,” Secretary of Transportation Elaine Chao said at the American Association of Port Authorities conference.
“This is one additional way to address the resource needs of transportation systems. Investors say there is ample capital available, waiting to invest in infrastructure projects,” Chao added.
Reducing the permitting process for projects such as roads, ports and bridges also would be part of the White House’s plan, which the secretary did not say when it would be made public.
Before addressing the group, Chao briefed about 45 lawmakers on Capitol Hill about the administration’s infrastructure proposal, House Transportation and Infrastructure Committee Chairman Bill Shuster (R-Pa.) said.
“There’s a federal component to it, obviously, and we gotta figure out the revenues, how we get more revenues. Public-private partnerships are a tool in the toolbox, but it’s not the toolbox. It’s a good tool. We need to make it better,” Shuster said during a subcommittee hearing earlier in the day.
