Trump's infrastructure overhaul to be detailed next month

White HouseFOXBusiness

Will infrastructure programs boost the economy, jobs?

Former Reagan economist Art Laffer on President Trump's push for an infrastructure deal and San Antonio Spurs coach Gregg Popovich's comments on charity.

On the heels of President Donald Trump’s first major legislative victory, the administration is turning an eye toward the New Year, with the infrastructure revamp topping the to-do list.

Continue Reading Below

White House officials told FOX Business on Thursday that the president will likely roll out his infrastructure principles next month, leading up to the State of the Union address. Trump, House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell are set to discuss the GOP’s overarching infrastructure themes at Camp David between Jan.6 and Jan. 7.

According to officials, the White House views infrastructure as three separate pieces, which include streamlining bureaucracy, funding and collapsing the agency review process.

The projected spending figures remain unchanged: a $1 trillion package consisting of combined public-private spending. The federal government is looking to directly spend around $200 billion.

While an infrastructure revamp was widely viewed as a bipartisan proposal at the outset of the president’s tenure, experts believe the outlook may be murkier after the passage of a tax reform bill that could pile on to the deficit. Trump’s promised $1 trillion infrastructure overhaul was supposed to be detailed within his first 100 days in office.

More on this...

U.S. Transportation Secretary Elaine Chao said in September that states and localities will compete for government funds, with the most innovative projects winning more federal dollars.

The infrastructure revamp is expected to address everything from bridges, roads and airports to energy, broadband and even Veterans Affairs hospitals. National Economic Director Gary Cohn told Axios that having broadband in rural areas is a priority. He also said that the government needs to reimagine infrastructure based on the future, adding that the U.S. can’t keep building cities in 2050.

In addition to infrastructure, the president has said he would like to address both health care and welfare reform in 2018.

What do you think?

Click the button below to comment on this article.