President Trump will release his long-awaited infrastructure investment plan Feb. 12, the same day his administration expects to issue his budget proposal for the upcoming 2019 fiscal year, said news reports citing White House sources.
Following an initial Bloomberg report on the Feb. 12 release date, Politico said Feb. 6 that the White House confirmed it.
The Politico story reported that a White House official said in a statement: "Next Monday, February 12th, the president will release his infrastructure principles, which will outline a plan that will generate at least $1.5 trillion of investment, cut the burdensome regulatory process from 10 years to 2, and provide funding for projects in rural America."
Trump said in his Jan. 30 State of the Union speech that he would ask Congress to pass legislation to generate at least $1.5 trillion in total project investment, by leveraging federal funds to produce new state, local and private investment.
Stakeholder groups have emphasized that any major project investment program needs to dedicate new revenue to put the Highway Trust Fund on a sustainable long-term course. The trust fund is currently on course to reduce highway spending in 2020 and become unable to support new investments in 2021 unless Congress acts to bolster it.
Transportation groups have also said that funneling new investment dollars through existing, formula-based federal programs like those in the Highway Trust Fund would be an efficient way to distribute funds so that states could apply them to projects they most need. Some are concerned that the president's proposal could pit states and projects against each other with federal officials deciding which would win funding.
President Trump released both his long-awaited infrastructure investment plan and his fiscal 2019 budget request Feb. 12, proposing big cuts in transit and rail funding at the same time he would provide $200 billion in new federal grants and loans over 10 years to leverage $1.5 trillion in total...
February 16, 2018
Major stakeholder groups, which had waited a year for President Trump to offer his vision for infrastructure investment, thanked him for generating attention to the issue but quickly focused on fixing the Highway Trust Fund for the long term and shaping investment legislation as it emerges in...
Key members of Congress said they welcomed President Trump's infrastructure investment as starting the conversation and giving momentum to potential legislation, but GOP leaders held back from endorsing the plan itself and Democrats generally gave it poor reviews.