Trump's Infrastructure Plan Is Heavy on Promises, Light on Details

Budget director warns interest rates may 'spike' on deficit

Budget director warns interest rates may 'spike' on deficit

White House budget director Mick Mulvaney on Sunday said the Trump administration will roll out a budget on Monday that will include funds to build the president's long-promised wall along the Mexican border.

Michael Pagano, dean of the College of Urban Planning and Public Affairs at the University of IL at Chicago, said the Trump administration attempt to leverage local government funds for infrastructure may not work because municipalities don't have the money.

Proponents, such as most airlines, argue that privatizing air-traffic control would enable swifter adoption of the new technologies known as NextGen, which are created to reduce delays and aircraft fuel use as well as enhancing safety.

"Monday's rollout.is our opening in terms of providing ideas to Capitol Hill", senior administration officials told reporters.

Senior White House officials and President Trump are expected to tour the country to explain and advocate for their plan.

The preview, released on Sunday, outlines the budget plan for next fiscal year, starting in October.

"This in no way, shape or form should be considered a take-it-or-leave-it proposal". The White House would offset the new spending with unspecified cuts in other areas of the budget.

The official said the default mindset for how to fund infrastructure projects needs to shift. $100 billion will go to financing state and local governments projects, $20 billion will be spent to expand private activity bonds and loan programs, $50 billion to be invested in rural infrastructure and will be provided as matching block grants to state governments, $20 billion will be allocated to transformative "next-century-type" of infrastructure, and an additional $10 billion will be spent on a congressional capital fund to help with governmental accounting rules.

The U.S. Chamber of Commerce has proposed hiking the federal gas tax, which hasn't gone up since 1993, to raise $394 billion over 10 years.

But even an investment of $1.5 trillion towards infrastructure over the next decade won't be almost enough to keep pace with the needed repairs.

Government auditors note Congress transferred $140 billion to the Highway Trust Fund from 2008 through 2015. The U.S. Chamber of Commerce recently came out in support of an increase.

The $200 billion in direct federal spending breaks down into five parts.

The Democratic proposal did not identify any specific plan to pay for improvements, but aides said they were committed to finding a way.

The White House Monday will unveil the main objectives it wants Congress to include in a legislative plan to try to tackle the nation's crumbling infrastructure. It would allow more students interested in skilled trades to use them.

Trump will meet with state and local officials including the governors of Wisconsin, Louisiana, Virginia and ME on Monday, before meeting with congressional leaders on Wednesday.

"I do have doubts that it's going to generate the infrastructure investment with local funds", said Pagano, citing his annual survey, which found last summer that municipal general funds still haven't rebounded to their 2006 level before the Great Recession hit.

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