Trump Administration Releases Infrastructure Plan and FY 2019 Budget Request
Tuesday, February 13, 2018
||Trump Administration Releases Infrastructure Plan and FY 2019 Budget Request
The White House released the Trump Administration’s infrastructure plan that is aimed stimulating $1.5 trillion in new investment over the next ten years based on the federal government’s contribution of $200 billion in federal funding. In some respects the plan is similar to the six-page document that previously was leaked, but the new 55-page plan provides more details. We expect legislation will be introduced in Congress in the near future.
The federal government’s $200 billion in funding will be allocated among five existing federal programs as follows:
- $100 billion to create an Incentives Program under which federal grants would be given to infrastructure projects funded by new sources of long-term, nonfederal revenue generated by the state and local governments and from the private sector.
- $20 billion for a Transformative Projects Program for “bold and innovative projects that have the potential to dramatically improve America’s infrastructure.”
- $20 billion to expand infrastructure financing programs, with $14 billion going to expanding existing loan and credit programs: Transportation Infrastructure Finance and Innovation Act (TIFIA), Water Infrastructure Finance and Innovation Act (WIFIA), Railroad Rehabilitation and Improvement Financing (RRIF), and rural utility lending, and $6 billion going to Private Activity Bonds (PABs).
- $10 billion will go to a new federal Capital Revolving Fund to address the leasing of federal real property, which would be more cost-effective to purchase.
- $50 billion to a new Rural Infrastructure Program from which 80% of the funds will be given state governors to distribute. The remaining 20% of the funds will be distributed through rural performance grants.
Members should visit Government Relations / General Info (Members) for more information.