Donald Trump unveiled a $200bn plan to fix America’s crumbling infrastructure – a plan that falls woefully short of the trillions civil engineers say is needed to rebuild the country’s tattered backbone and is likely to face intense opposition from Democrats and Republicans.
Trump said in a statement: “We will build gleaming new roads, bridges, highways, railways, and waterways all across our land. And we will do it with American heart, and American hands, and American grit.”
He said the plans constituted “the biggest and boldest infrastructure investment in American history”.
Trump has earmarked $200bn in federal funds to encourage states, cities and private enterprise to rebuild the nation’s dams, roads, bridges, airports and other essential infrastructure. The aim is to encourage $1tn of extra investment.
Trump campaigned on the need infrastructure reform, promising to spend “big” on infrastructure and consistently touted his record as a builder.
But the promised federal funds are a fraction of the $2tn that the American Society of Civil Engineers says is needed to repair US infrastructure. Last year, the ASCE gave the US’s infrastructure a D+ grade and said failure to act would cost the US economy $4tn by 2025.
via The Guardian
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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