Infrastructure, sounds great doesn't it. Wait till you read the fine print. Key points, tax credit, privatization and profits.
From the article: "...Speaking in Cincinnati, Trump called for upgrading crumbling levees, dams, locks and ports that would be funded through a mixture of public spending, loans and grants. He also said infrastructure projects could be dramatically accelerated by reducing the time required to obtain a permit.
Overall, Trump argued, the onus should be on states, cities and corporations ― and not the federal government ― to fund new infrastructure projects...."
Okay, hold it right there. State and City governments are straining their budgets right now just meeting basic services. And to do this work, they would need to raise taxes. And who pays the most taxes, the wealthy? Corporations?
Back to the article: "....Trump said in his address to a joint session of Congress in February that “he would ask Congress to approve legislation that produces a $1 trillion investment in infrastructure of the United States ― financed through both public and private capital.” That sounds a bit like the president is proposing to spend a trillion dollars on infrastructure, but he isn’t...."
You know what's coming don't you? Wait for it, here it the kick in the taxpayers' a**
Returning to the article, "...When Trump says “produces a $1 trillion investment,” he in fact is referring to a $200 billion budget proposal that is mainly tax breaks to private corporations that would build ― and own ― public infrastructure...
In other words, it’s the same as the proposal released during the campaign by Wilbur Ross, now Trump’s commerce secretary, and Peter Navarro, a professor at the University of California, Irvine, who now heads up Trump’s National Trade Council. That proposal called for an 82 percent tax credit on private equity invested in infrastructure...
Tax credits for private companies to build public works largely fail to provide either of those benefits. The economy doesn’t really get a true stimulus, because the tax credits simply go toward making projects that companies were already willing to do more profitable for those companies. And that deficiency is related to the second key failure of infrastructure privatization: Not everything that needs to get built gets built. For instance, a private company is not going to take on the challenge of removing lead pipes in Flint, Michigan, or countless other cities across America. That’s a project that needs to happen ― more than three years after the lead crisis began, residents still don’t have access to drinkable water from their taps ― but outsourcing the responsibility to a private company isn’t going to get it done..."
Can you say boondoggle?