Feb 12 - President Trump releases $4 Trillion Infrastructure - Budget Plan

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 3 months ago '07        #1
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theFREAK 3947 heat pts3947
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Feb 12 - President Trump releases $4 Trillion Infrastructure - Budget Plan
 

 





President Trump is calling to pump $1.5 trillion into fixing America’s infrastructure while streamlining the often-cumbersome permitting process, as part of a $4 trillion-plus budget plan unveiled Monday.

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"World-class infrastructure is possible for the American people," Trump said in his budget message to Congress.

In the runup to the release, the president also tweeted: "This will be a big week for Infrastructure. After so stupidly spending $7 trillion in the Middle East, it is now time to start investing in OUR Country!"


Unlike last year’s plan, the fiscal 2019 blueprint does not seek to balance the budget over the next decade. Combined with a newly passed spending deal and sweeping tax cuts, the budget would see the federal deficit once again rising past $1 trillion in the near-term.

The infrastructure component, however, would not necessarily be a huge driver of Washington’s red ink.

FULL INFRASTRUCTURE COVERAGE

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Under the plan, $200 billion of the $1.5 trillion in proposed spending would be federal dollars, which a senior administration official said would come from "reductions in other areas of the budget." The plan calls on state and local governments and the private sector to put up most of the funding. The federal funding would be used to match local spending, provide “incentives” and expand loan programs.

The plan also would boost investment for projects in rural America -- including transportation, broadband, water, waste, power, flood management and ports -- by $50 billion in a bid to address criticism from some Republican senators that the Trump administration's initial emphasis on public-private partnerships would do little to help those areas.

But the Trump administration is casting another part of the plan as equally vital – streamlining the permitting process, which a senior administration official described as “fundamentally broken.”

That component aims to cut the permitting process for new projects from upwards of 10 years to just two years.

To get there, officials envision a single federal agency making decisions on infrastructure bids – with decision-making consuming about 21 months and permitting consuming the remaining three.

Doing so, officials said, would remove “duplicative” elements that currently lead to second-guessing, delays and other problems when multiple agencies weigh in on the same decision.

The president, in remarks last week to Republican lawmakers at a West Virginia retreat, emphasized efforts to "streamline the horrible approval process — roadways that take 12, 13, 14 years to get approved."

"We used to build them in three months, and now it takes years and years of approvals. We're going to bring that down, ideally, to one year. Two years is our goal, but one year is our real goal," Trump said.

Early reaction to the proposal was divided.

Jay Timmons, president of the National a.ssociation of Manufacturers, saluted Trump "for providing the leadership we have desperately needed to reclaim our rightful place as global leader on true 21st-century infrastructure."

But a number of Democrats and the U.S. Chamber of Commerce have pushed the administration to commit far more federal dollars, funded by tax increases, or by closing tax loopholes. And environmental groups expressed worry about its impact.

"President Trump's infrastructure proposal is a disaster," said Shelley Poticha, of the Natural Resources Defense Council.

Trump has repeatedly blamed the "crumbling" state of the nation's roads and highways for preventing the American economy from reaching its full potential. Many in Washington believe that Trump should have begun his term a year ago with an infrastructure push, one that could have garnered bipartisan support or, at minimum, placed Democrats in a bind for opposing a popular political measure.

On top of the infrastructure push, Trump also will ask for a $13 billion increase over two years for opioid prevention, treatment and long-term recovery. A request of $23 billion for border security, including $18 billion for a wall along the U.S.-Mexico border and money for more detention beds for detained immigrants, is part of the budget, too.

Trump would again spare Social Security retirement benefits and Medicare as he promised during the 2016 campaign.

But Trump officials stress that they’re still working to balance the budget.

"The budget does bend the trajectory down, it does move us back towards balance. It does get us away from trillion-dollar deficits," budget office head Mick Mulvaney said on "Fox News Sunday."
President Donald Trump will unveil his second budget on Monday, seeking to make good on his promise to bolster military spending and requesting funds for infrastructure, construction of a wall along the border with Mexico and opioid treatment programs.

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The budget plan, which is viewed largely as suggestions by Congress, which has the constitutional authority to decide spending levels, will likely draw criticism from conservatives who worry that Republicans are embracing deficit spending.

The proposal will include $200 billion for infrastructure spending and more than $23 billion for border security and immigration enforcement, Mick Mulvaney, who heads the administration's budget office, said in a statement on Sunday night.

It will also provide "for a robust and rebuilt national defense," he said.

But the statement added that the proposal would recommend cuts that would lower the deficit by $3 trillion over 10 years.

"The budget does bend the trajectory down," Mulvaney told the "Fox News Sunday" program earlier on Sunday. "It does move us back towards balance. It does get us away from trillion-dollar deficits."

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The budget request will be delivered to Congress only days after Trump signed off on a bipartisan spending agreement hammered out by lawmakers that will increase domestic spending by $300 billion over two years - including $165 billion in defense spending and $131 billion in non-military domestic spending.

The White House plans to amend its request to take into account the higher spending levels in the agreement that passed on Friday, a senior official in the Office of Management and Budget said.

Mulvaney said on Sunday all that money did not need to be spent.

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"These are spending caps," Mulvaney said. "They are not spending floors. You don’t have to spend all that."

The spending deal will add to the annual budget deficit, which will now exceed $1 trillion in 2019, said the Committee for a Responsible Federal Budget watchdog group.

Trump's previous budget was criticized for recommending cuts to spending to achieve deficit reduction that ultimately even members of his own Republican Party thought were untenable.

"I hope the budget that we see is workable and recognizes the landscape we're in," said Senator Lisa Murkowski, a Republican member of the Appropriations Committee. "A lot of times, what you have is a budget that even the Cabinet secretaries can't defend."



DEFICIT DEBATE

"The president's budget is always a list of pretty good suggestions. It's not 'the' budget," said Senate Budget Chairman Mike Enzi.

This year's budget is likely to stoke debates about deficits that began when Congress passed a tax overhaul in December. The tax cuts in the legislation contained no corresponding reductions in spending and instead relied on arguments that the lower rates would stoke economic growth.

Trump's budget will include a number of economic forecasts and is expected to rely on estimates that the economy will keep growing at a rapid pace for the foreseeable future.

Such forecasts could obscure the level of deficit spending, said Robert Greenstein, president of the progressive Center for Budget Policy and Priorities.

"It'll essentially be another budget gimmick, alongside rosy economic a.ssumptions, to make the deficit smaller than it will actually be," Greenstein said.

The budget proposal will include two key elements - $18 billion over two years for Trump's long-promised border wall and $200 billion in federal funds to spur $1.5 trillion in infrastructure investments over the next 10 years with state, local and private partners, Mulvaney's statement said.

Trump promised during the 2016 campaign that Mexico would pay for the border wall, which the Mexican government has insisted it will not do.

Democrats oppose the wall, which Trump has said is aimed at keeping out illegal immigrants and drug smugglers.

The budget will also seek some $13 billion in new funding over the next two years to combat the opioid epidemic.

In addition, it will request $85.5 billion for veterans' health, the administration said.




Last edited by theFREAK; 02-12-2018 at 05:17 PM..
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85 comments for "Feb 12 - President Trump releases $4 Trillion Infrastructure - Budget Plan"

 3 months ago '17        #2
Ymmot 4 heat pts
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More garbage from the worst president...
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 3 months ago '04        #3
abacabb 135 heat pts135
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 Ymmot said:
More garbage from the worst president...
Is the plan bad or Trump bad?













Can't change the president yet but do you have suggestions on where the plan could be better? I am interested in seeing how they finesse the budget to keep the spending vs new debt reasonable (aka if you not cutting entitlements what are you cutting).


Last edited by abacabb; 02-12-2018 at 10:08 AM..
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 3 months ago '11        #4
Sin 1476 heat pts1476
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I feel 200 billion is low but we’ll see how the streamlined process works with reducing cost and incentives states and local governments to spend
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 3 months ago '17        #5
yousabitch 
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fu*k Trump and anyone who supports him
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 3 months ago '04        #6
abacabb 135 heat pts135
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 Sin said:
I feel 200 billion is low but well see how the streamlined process works with reducing cost and incentives states and local governments to spend
Seems low but it depends on the type of infrastructure investment. For example Streets and Bridges have different cost a.ssociated with them than IT fiber or infrastructure. When the release more info i'll prob check to see how/where they appropriate those funds or make grants available.

That may not be the totality of the federal contribution. It also may lead to other leverage points state and local matches. Usually like 80/20 or 80/15/5 (fed/state/local).

I know Rand Paul put a plan to use what would otherwise be "foreign aid" to finance some of the plan. He did a bill that would take 400mil from Palestine and put it to infrastructure.
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 3 months ago '11        #7
Sin 1476 heat pts1476
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 abacabb said:
Seems low but it depends on the type of infrastructure investment. For example Streets and Bridges have different cost a.ssociated with them than IT fiber or infrastructure. When the release more info i'll prob check to see how/where they appropriate those funds or make grants available.

That may not be the totality of the federal contribution. It also may lead to other leverage points state and local matches. Usually like 80/20 or 80/15/5 (fed/state/local).

I know Rand Paul put a plan to use what would otherwise be "foreign aid" to finance some of the plan. He did a bill that would take 400mil from Palestine and put it to infrastructure.
I was hoping for infrastructure projects like high speed rail and a tunnel project for nyc

200 billion is low for those types of projects


Last edited by Sin; 02-12-2018 at 10:32 AM..
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 3 months ago '13        #8
Erma Gerd 298 heat pts298
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wait... y'all think this congress is going to pass a $4.4 trillion spending plan?

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 3 months ago '11        #9
Sin 1476 heat pts1476
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 yousabi*ch said:
fu*k Trump and anyone who supports him
Everyone universally agrees that the infrastructure needs updating

This is pro America
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 3 months ago '11        #10
Sin 1476 heat pts1476
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 Erma Gerd said:
wait... y'all think this congress is going to pass a $4.4 trillion spending plan?

Why do you think trump wants to bring back earmarks
 3 months ago '17        #11
Naga Sadow 7 heat pts
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And with the mass tax cuts we had that's gonna put us $1.5T in the hole, where is the money gonna come from?
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 3 months ago '07        #12
RedMonkeyJunkie 11 heat pts11
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 Erma Gerd said:
wait... y'all think this congress is going to pass a $4.4 trillion spending plan?

Theyll take a quick glance and laugh at it then move on.
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 3 months ago '04        #13
Propel Water 20 heat pts20
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 yousabi*ch said:
fu*k Trump and anyone who supports him
You sound like an uneducated hoe
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 3 months ago '07        #14
theFREAK 3947 heat pts3947 OP
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 Propel Water said:
You sound like an uneducated hoe
He is.
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 3 months ago '17        #15
lucifershammer 2 heat pts
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 Naga Sadow said:
And with the mass tax cuts we had that's gonna put us $1.5T in the hole, where is the money gonna come from?
they are gonna borrow from the fed
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 3 months ago '06        #16
Skateboard T 35 heat pts35
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Those numbers are nice BUT...what are the means used to justify those ends?


I don't want to "combat the opioid crisis" by inject police forces with billions of dollars so they can be more militarized and arrest more drug addicts who would better benefit from addiction counseling than they would prison time.

This is a LOT of government spending though...on top of a massive tax cut...I don't love it.

USD value is going to take a big hit...
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 3 months ago '17        #17
yousabitch 
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 theFREAK said:
He is.
I ll say it again..fu*k Trump and anyone who supports him...Trying to sneak a wall in every thing lol..why not a wall at the Canadian Border? Hell put one on each coast box us in ...sh*t wont stop drugs or immigrants if they want in they will get in there's no stopping that
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 3 months ago '05        #18
blah blah blah 41 heat pts41
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Thought Mexico was paying for the wall?
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 3 months ago '17        #19
Ymmot 4 heat pts
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 abacabb said:
Is the plan bad or Trump bad?













Can't change the president yet but do you have suggestions on where the plan could be better? I am interested in seeing how they finesse the budget to keep the spending vs new debt reasonable (aka if you not cutting entitlements what are you cutting).
They're just tap dancing around all this spending. They're gonna cut entitlements, it's inevitable. Trump thinks somehow a lot more money is gonna appear out of nowhere, dude is an idiot.
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 3 months ago '17        #20
Ymmot 4 heat pts
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 SisterFister said:
I have 100 some shares of RGSE (real goods solar energy) bought at 1.09 now I made a good 6-7 % profit. Quick flip



Thanks trump
I forgot he was on the board...
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