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Trump unveils massive infrastructure plan

IANS  |  Washington 

US released a long-promised $1.5 trillion infrastructure initiative on Monday, aiming to rebuild the nation's outdated roads, railways and other public works.

The 53-page document detailed Trump's plans of how to fund the investments, shorten project permitting time, remove regulatory barriers, help rural areas and improve worker training, reported.

"Our Nation's infrastructure is in an unacceptable state of disrepair, which damages our country's competitiveness and our citizens' quality of life," was quoted as saying.

ran for in 2016 on the promise of a $1 trillion infrastructure updating plan and vowed to make it happen in his first 100 days in office.

The plan, however, was delayed because of health care issue and a tax cut bill.

On Monday, met with several governors and state and local officials at the to ratchet up support.

As the owns little infrastructure across the country, the initiative handles decision making authority to state and local governments.

"This will be a big week for Infrastructure," tweeted on Monday. "After so stupidly spending 7 trillion in the Middle East, it is now time to start investing in OUR Country!"

At the core of the plan is funding. The will provide $200 billion in the next 10 years to spur another $1.3 trillion contributions from states and private investors, according to the initiative.

Analysts, however, doubted the feasibility of the ambitious plan, because for every dollar the offers, other parties have to pay $6.5.

As for the $200 billion, the said it will raise the money by cutting spending in other areas, including some transit and funds it reckons as ineffective.

It will now be up to to debate the infrastructure proposal. urged the to draft and pass the infrastructure bill.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 13 2018. 07:44 IST
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