INFRASTRUCTURE/TRUMP AS PRESIDENT: “The Trump administration released a long-awaited infrastructure plan on Monday [2-12-18] that seeks to replace traditional federal publics-works programs with a new system of incentives intended to prod state and local governments to raise their own funds for physical improvements.
The administration says $100 billion in incentives over 10 years could yield more than $1 trillion in total investment in roads, bridges, rails and water systems, adding that Washington should provide assistance of no more than 20% of a new project’s cost. The plan would shift the responsibility for funding major new public works from the federal government to cities and states. Still, it wasn’t clear where the government would find the $200 billion in direct federal spending outlined in the plan.
The administration has challenged Congress to find the federal share of the money—a $200 billion challenge made all the more difficult when President Donald Trump signed a two-year budget agreement last week. Mr. Trump could face resistance from Republicans leery of adding to the deficit, as well as moderate Republicans and Democrats who successfully blocked his proposals for deep cuts in transportation and infrastructure grant programs when he introduced in his first budget proposal last year.”
-Ted Mann, “Infrastructure Plan Puts Onus on Local Governments,” The Wall Street Journal online, Feb. 12, 2018 07:06pm