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| Senate Democrats Introduce $1 Trillion Infrastructure Plan, Offer Trump Support If He Backs It |
| 2017-01-25 |
| [ZEROHEDGE] The plan includes $180 billion to rail and bus systems, $65 billion to ports, airports and waterways, $110 billion for water and sewer systems, $100 billion for energy infrastructure, and $20 billion for public and tribal lands. Cited by the Times, Chuck Schumer said “our urban and rural communities have their own unique set of infrastructure priorities, and this proposal would provide funding to address those needed upgrades that go beyond the traditional road and bridge repair." The Senate Democrat leader adds that “We’re asking President Trump to work with us to make it a reality/" As part of his agenda, Trump has promised to unveil an ambitious infrastructure package during the first 100 days of his presidency. “We will build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation,” he vowed in his Inaugural Address. One of Trump’s top advisers said Monday, however, that the president’s plan may run into roadblocks in the Republican-led Congress. “He has to come up with a financing plan, and I think there’s going to be a little bit of a tug of war between the conservatives in the Republican party who are concerned about deficits and the president who’s concerned about jobs,” Richard LeFrak said on CNBC’s "Squawk Box." “I think he will prevail, ultimately, because he wants to put people to work.” Republicans resisted President Barack Obama’s push for an infrastructure “surge” for eight years, arguing that the federal government couldn’t afford it and that state and local governments should shoulder more responsibility for improvements. However, now that Trump "has taken up the Democratic cause", they may find it more problematic. Meanwhile, as the NYT adds, the first major test of Mr. Trump and his sway over congressional Republicans will come Tuesday morning at 10 a.m. That is when the Congressional Budget Office, the nonpartisan Capitol Hill scorekeeper, will update its budget outlook. The office is expected to say that the federal deficit, after years of decline, will start swelling again this year and will pick up steam over the next decade if policies aren’t changed to curb the growth of health care programs and of Social Security in an aging populace. The annual report could be a major brake on Mr. Trump’s agenda, which includes large increases in spending on infrastructure and defense, as well as deep tax cuts. Those plans could collide with Republican promises to balance the budget — if Republicans care about such niceties in the Trump era. |
| Posted by:Fred |
| #11 Interest rates are so low, why not load up on debt? Besides, this is an investment, not an expenditure. This money's coming back to us. Unions? Of course Trump is going to unions. He's a New York Democrat. In his new guise as the leader of the Trumpist Party, he's going to steal the unions right out from under the Democrats and staple them to himself. The Dems are going to be ruined. If Trump can do something for the blacks in the inner city, the Democratic Party as we know it is history and has contested its last U.S. presidential election. |
| Posted by: Thumper Dribble5791 2017-01-25 21:49 |
| #10 The office is expected to say that the federal deficit, after years of decline, will start swelling again this year. I guess Trump's gonna have to fire more hacks to get the deficit back down. A real shame if that was to happen... |
| Posted by: Raj 2017-01-25 11:31 |
| #9 Put them all in jail for attempting to bribe a public official. |
| Posted by: Abu Uluque 2017-01-25 11:14 |
| #8 As Obama showed, let the WH control the project selection (just like those green projects). That way instead of the union bosses going to Schumer and anyone else's office, they'll sign in at the WH. They'll know who keeps their members employed. |
| Posted by: Procopius2k 2017-01-25 10:49 |
| #7 Now this is the way to grow the graft. This is the cheese in the trap. Once DJT signs on they'll start outing the graft-o-crats and blaming it on him. Oh, that's AFTER they take their cut. |
| Posted by: AlanC 2017-01-25 07:40 |
| #6 Subsidies to infrastructure spending tend to bump up prices of nearby land, of which is bought using loans, of which the banking sector tend to gain from the increased amount of interest payment. |
| Posted by: Bright Pebbles 2017-01-25 05:46 |
| #5 Thatis when the Congressional Budget Office, the nonpartisan Capitol Hill scorekeeper, will update its budget outlook. The office is expected to say that the federal deficit, after years of decline, will start swelling again this year ...Just now? Hmm. Given the numbers that the Obama Administration was willing to release, this seems like it should have been obvious (and indeed was) to anyone with a minimally active central nervous system. Seems to me like CBO didn't want to officially bring up this little detail while the Lightbringer was still in office, but was happy to do so now that the Other Guy won. Another agency that needs to be burned to the ground and started from scratch. Mike |
| Posted by: Mike Kozlowski 2017-01-25 05:16 |
| #4 Be good to get Port operations and security back into American hands. |
| Posted by: Skidmark 2017-01-25 02:45 |
| #3 Introducing such a plan only illustrates their collective incompetence and lack of understanding of this man. |
| Posted by: Besoeker 2017-01-25 01:41 |
| #2 Anything going to rail, port, bus, airports or waterways goes right into union coffers. I would be highly suspicious of this offer if I was Trump. In fact I would tell them to fuck themselves with it. |
| Posted by: DarthVader 2017-01-25 00:59 |
| #1 Spending money on rail and bus systems is pointless as self driving vehicles and on demand scheduling will obsolete most of the current public transit system. In a few years, timetables will seem a quaint anachronism. |
| Posted by: phil_b 2017-01-25 00:30 |