Why does Donald Trump want to spend 1 Trillion Dollars? One of the key campaign promises of the US President Donald Trump, along with tax reform and the construction of a wall on the Mexican border was the program to restore American infrastructure. What is the Trillion Dollar infrastructure program, will the Congress approve it, and whether the infrastructure program is feasible or not? Analysis by EurAsian Times.
What is the Trillion Dollar Infrastructure Program
What is the essence of the Infrastructure Program?
The main message of the 70-page document under development boils down to the fact that in the next ten years $ 1 trillion is needed for infrastructure development in the US. This is a huge amount, almost comparable to the GDP of Mexico for 2016 ($ 1.05 trillion).
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It is assumed that only $ 200 million will be allocated from the federal budget. The remaining $ 800 million necessary for the reconstruction and construction of new “routes, bridges, tunnels, airports, schools and hospitals” is proposed to be funded by local authorities and private investors.
Will it be approved by the US Congress?
At the same time, the US Democratic Party is skeptical. According to the leader of the Democratic minority in the US Senate, Charles Schumer, for the next ten years, the government proposes to reduce the financing of infrastructure on the lines of several ministries by a total of $ 206 billion.
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Schumer rebuked Trump for wanting to reduce the funding for the states and cities to “pay rich hedge funds for the construction of new toll roads.” And Republican Bill Shuster, chairman of the US House of Representatives Committee on Transport and Infrastructure, believes that President Trump is a “builder” who understands why infrastructure is so “important for jobs and the economy.”
Is the Project Feasible?