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Senate Democrats Introduce $1 Trillion Infrastructure Plan, Offer Trump Support If He Backs It
Zero Hedge ^
| 01/24/2017
Posted on 01/24/2017 6:30:17 AM PST by SeekAndFind
Senate Democrats are set to unveil a $1 trillion infrastructure plan and offer President Donald Trump their support if he backs it, the NYT reports.
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 Were 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 Trumps top advisers said Monday, however, that the presidents plan may run into roadblocks in the Republican-led Congress.
He has to come up with a financing plan, and I think theres 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 whos concerned about jobs, Richard LeFrak said on CNBCs "Squawk Box." I think he will prevail, ultimately, because he wants to put people to work.
Republicans resisted President Barack Obamas push for an infrastructure surge for eight years, arguing that the federal government couldnt 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 arent 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. Trumps 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.
As we noted previously, according to a Barclays analysis, infrastructure spending in the US will take a long time to ramp up. The bank laid out the top 10 projects currently in planning or construction, and just these along will take as much as 1-2 years before any practical benefits "trickle down" to the long-ignored US steel sector which Trump has vowed to revitalize. This is what Barclays said last week:
Given the unknowns about Trumps infrastructure plan lack of clarity on total spend, past ineffectiveness of stimulus efforts, timing of implementation, pushback from Congress we currently model no additional metals demand from supplemental infrastructure investment during 2017-18 into our baseline forecast. As greater visibility becomes available, we will adjust our consumption forecasts to take into account the latest spending plans. The key issue we think is facing the metals sector is that even if infrastructure spending is approved at the headline level ($1trn over 10 years, or $100bn a year) and implementation is effective, the project schedule does not allow for an immediate effect on metals consumption, particularly over the next two to three years.
A list of the ten largest US infra projects is shown below:
TOPICS: Breaking News; Business/Economy; Government
KEYWORDS: congress; democrats; first100days; infrastructure; republicans; senate; trump; trump45
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To: thoughtomator
As if the corporate media would play it any differently if this proposal didnt exist?Call them what they really are - the FakeNews media.
81
posted on
01/24/2017 8:11:38 AM PST
by
wastedyears
(President of the United States Donald J. Trump)
To: enduserindy
Still takes six hours to get from Houston to Texarkana, where you can pick up other interstates. All of the other interstates out of Houston take you too far out of the way going up toward Chicago.
82
posted on
01/24/2017 8:11:44 AM PST
by
ichabod1
(Make America Normal Again)
To: SeekAndFind
Beware the stuff they cram in and hide in the small print. They’ll put in something unacceptable to most of Americans and then scream that the Republicans want bridges to fall when it doesn’t pass.
83
posted on
01/24/2017 8:21:48 AM PST
by
jch10
(President Trump, President Trump, President Trump! I just love saying that!)
To: SeekAndFind
Beware the stuff they cram in and hide in the small print. They’ll put in something unacceptable to most of Americans and then scream that the Republicans want bridges to fall when it doesn’t pass.
84
posted on
01/24/2017 8:21:52 AM PST
by
jch10
(President Trump, President Trump, President Trump! I just love saying that!)
To: SeekAndFind
What happened to the last nearly $1 trillion the Obama and his Dems pissed away on the non-existent shovel ready jobs?
To: SeekAndFind
I thought the normal process is for bills to originate in the House and then go to the Senate. Is that not the case? If so, then when will those legislative bodies get the procedure going the way it should?
86
posted on
01/24/2017 8:36:11 AM PST
by
ducttape45
(Every Saint has a past, Every Sinner has a Future!)
To: rod1
And then, trash the bill. You lie to me and I’ll get even.
87
posted on
01/24/2017 8:39:20 AM PST
by
NTHockey
(Rules of engagement #1: Take no prisoners. And to the NSA trolls, FU)
To: rod1
“Trump should tell them...Pass my cabinet nominees and I will then look at it.”
“Put your full support behind Keystone and I will prioritize which of your projects gets funded.”
88
posted on
01/24/2017 8:40:14 AM PST
by
EQAndyBuzz
("Alinsky, you magnificent bastard, Trump read your book!")
To: Reno89519
“President Trump should say this is a good starting point, hell come up with an Omnibus plan of infrastructure projects, including the wall, welcoming Congressional support for its quick passage.”
Trump: “As soon as the wall is finished we will get started on some of the larger infrastructure projects. For now, all projects where the state cannot fund at least 50% of it is off the table.”
89
posted on
01/24/2017 8:43:44 AM PST
by
EQAndyBuzz
("Alinsky, you magnificent bastard, Trump read your book!")
To: ichabod1
I have a hard time seeing I 69 going from northeastern Indiana to southwewtern Indiana to Tex arkana.
90
posted on
01/24/2017 8:50:42 AM PST
by
enduserindy
(I always smile when my competition doubles down on stupid.)
To: SeekAndFind
ca high speed rail?
tell them all...hell no!
91
posted on
01/24/2017 9:15:44 AM PST
by
dadfly
To: apillar
No, don’t say anything about unions. This proposal is entirely about keeping the union vote democrat.
Comment #93 Removed by Moderator
To: SeekAndFind
Wholly unaffordable given the current government apparatus.
The hogs in Congress continue to want their pet projects funded. We need new infrastructure investment, but we can’t afford to do this, massively fund the military, massively fund the welfare state, and keep up the gubmint boondoggles too. Something’s got to be cut somewhere. We’re now up to $66,000,000,000,000 in total debt.
http://www.usdebtclock.org/
94
posted on
01/24/2017 10:30:40 AM PST
by
Vaden
(Donald Trump: making political impossibilites possible since 2015!)
To: SeekAndFind
Trump doesn’t take bribes
Support him first, that’s your job as Americans.
95
posted on
01/24/2017 10:54:01 AM PST
by
Syncro
(Facts is facts)
To: EQAndyBuzz
“For now, all projects where the state cannot fund at least 50% of it is off the table.
Good point
96
posted on
01/24/2017 10:55:50 AM PST
by
Syncro
(Facts is facts)
To: SeekAndFind
Note to Pres Trump:
This is pork barrel politics. PURELY PORK BARREL.
Any or All of these projects could have been at least
STARTED under Obama. They were not. Obama took credit for projects that finished up just before or just AFTER he took office, which were underway under Geo W Bush. Obama spent all of his life, and particularly 8 years taking credit for things that were done by others.
The Dems had control of the purse strings for many of those 8 years. THEY DID NOT use that power-—now, in an effort to get their pork barrel projects done, along with the expense of doing so, they are trying to leverage Pres Trump to do the projects.
LINE ITEM VETO needs to be in place for any projects worthy of consideration. SINGLE ITEM BILLS need to be used to build these projects. NO LONG, endless, pieces of legislation that even a law professor cannot follow or read correctly & completely.
Pres Trump: Fall back on the KISS method of doing things: KEEP IT SIMPLE, STUPID. I am NOT refereeing to Pres Trump as stupid-—only the Dems who know how to finagle, connive, and buffalo better than a carnival barker.
To: SeekAndFind
$132bn in projects nationwide and California wants $93bn of it?
No, thank you.
98
posted on
01/24/2017 11:07:37 AM PST
by
MeganC
(Hate crime: The heinous act of disagreeing with a liberal.)
To: SeekAndFind
Another attempt to get the UNIONS involved at a cost that far exceeds NON-Union work.
I don’t buy the argument that UNION workers are more talented or more reliable. Non of this expenditure should be a big payout to one part of the American work force-—& Union membership is down. Right to Work states are growing in number.
To: texas booster
If the Texas HSR project is built by a private firm then I imagine their plan and ridership projections support the idea.
Let them do it and let them compete with the airlines if they want. I expect you’ll end up with cheaper intrastate airfares and airport fees along the HSR route.
100
posted on
01/24/2017 11:13:40 AM PST
by
MeganC
(Hate crime: The heinous act of disagreeing with a liberal.)
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