Trump’s Deadbeat Trillion Dollar Infrastructure Plan Will Pick Your Pockets
Trump is finally releasing his plan to invest in infrastructure and it looks absolutely terrible
On the campaign trail Donald Trump made a big promise to Americans that he would invest heavily in infrastructure. Well, today he has finally revealed his big plan that has been a year in the making – and it’s a headscratcher.
Apparently, as the Washington Post reports, Trump’s massive $1.5 trillion dollar infrastructure program is only going to be getting $200 billion in federal funds over the next decade. So, where, exactly, is the remaining $1.3 trillion going to come from? Good question.
Trump’s grand hope is that by making a few tweaks here and there he can use the $200 billion to entice both state and local governments, as well as the private-sector, into investing in infrastructure to get to the $1.5 trillion dollar mark. So, basically, it is a $1.5 trillion dollar plan designed with the HOPE that others will cover the costs.
As Bloomberg points out, In order for state and municipal governments to raise the funds needed they will be encouraged to….raise taxes.
“The plan allocates $100 billion for a grant competition with preference given to applicants that raise revenue such as taxes, fees or tolls, and would limit federal help to 20 percent of new money generated.”
Then, there is also talk that federal taxes on gasoline could be increased from 18.4 cents per gallon to 25 cents per gallon.
So, after Donald Trump’s much touted tax restructuring that brought federal income levels down by $1.5 trillion, mostly by reducing the amount of tax paid by the most well off in America, he has now promised to spend $1.5 trillion on infrastructure using money raised by practically forcing state and municipal and gasoline taxes to go up. Clever? Or outright irresponsible and deceitful?
Former director of the Department of Transportation’s Build America Bureau is highly skeptical that Trump’s not-so-brilliant brilliant plan is going to work, calling it “just a prayer and a hope.”
“Who is going to come up with all that extra money? The states are broke….[there is] a real gap between the president’s articulation and the meat of this proposal.”
Furthermore, as the Chicago Sun Times reports, as it is, Trump’s tax restructuring plan is going to raise the deficit by $1 trillion according to the White House’s own 2019 budget proposal. And, of course, he is still demanding $18 billion in order to fulfill his fantasy of building his beautiful wall along the Mexican border…the one he still seems to expect Mexico to pay for.
And this is making America great again how?
Feature image Mike Theiler-Pool/Getty Images.
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