WASHINGTON: US President Donald Trump today unveiled a massive $1.5 trillion plan to modernise America's infrastructure including $200 billion in federal funding Describing it as a most comprehensive infrastructure bill in the history of the US, Trump said the plan addresses more than traditional infrastructure - like roads, bridges and airports - such as drinking and wastewater systems, waterways, water resources, energy, rural infrastructure, public lands, veterans' hospitals and Brownfield and Superfund sites. The administration’s plan is centered on using $200 billion in federal money to leverage local and state tax dollars to fix America’s infrastructure, such as roads, highways, ports and airports. “My Administration’s plan addresses more than traditional infrastructure — like roads, bridges, and airports — but addresses other needs like drinking and wastewater systems, waterways, water resources, energy, rural infrastructure, public lands, veterans’ hospitals, and Brownfield and Superfund sites,” Trump said in the White House document. Of the $20 billion, $14 billion will go to expanding a number of existing credit programmes: TIFIA, WIFIA, RRIF and rural utility lending.While $6 billion will go to expanding Private Activity Bonds , $10 billion will go to a new Federal Capital Revolving Fund which will reduce inefficient leasing of Federal real property which would be more cost-effective to purchase.According to the White House, $50 billion of the $200 billion in direct Federal funding will be devoted to a new Rural Infrastructure Programme to rebuild and modernise infrastructure in rural America.
President Trump also introduces his US$1.5 trillion federal infrastructure plan to several governors and mayors at the White House.