WASHINGTON, DC–The outline of President Donald Trump's $1.5 trillion infrastructure was laid out during his State of the Union address earlier this year: to leverage $200 billion in federal money with local and state tax dollars and private investment. This week he followed up with a 53-page [PDF] blueprint containing additional details.
“For too long, lawmakers have invested in infrastructure inefficiently, ignored critical needs, and allowed it to deteriorate,” the report began. “As a result, the United States has fallen further and further behind other countries.”
The plan describes how the 20% of federal money could be matched by an 80% contribution from local funds. It notes, for example, that existing funding sources such as sales taxes levied to pay for transit projects may be included in a local jurisdiction's contribution.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
