Columbus — President Donald Trump will propose spending $200bn in federal funds over 10 years to spur investment in the nation’s infrastructure, a senior Office of Management and Budget official said. The administration’s aim for the funds, which will be part of the budget proposal Trump plans to release on May 23, is to provide incentives for at least $800bn of infrastructure investment by the private sector and state and local governments, said the official, who spoke on condition of anonymity because the plans were not yet public. Administration officials are examining the use of federal grants and loans as well as other vehicles to spur the investment, much as the existing Transportation Infrastructure Finance and Innovation Act loan programme leverages federal funding for state and local spending, the official said. One option likely to be part of the plan is asset recycling, in which the federal government offers an incentive to encourage a state or municipality to lease a pub...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.