A leaked six-page document which is reportedly the Trump administration’s draft version of an infrastructure plan has been posted online Monday.
The draft outlines details of the Trump administration’s plan to restore America’s roads, bridges, airports and other transportation systems, along with updates to Veteran’s Affairs facilities, water infrastructure and land revitalization.
Eligible entities includes states or groups of states, Puerto Rico, U.S. territories, metropolitan planning organizations, units of local government, public utilities, non-profits, tribal governments, and others.
Axios first posted the document on their website, and Politico has also made the document available. CLICK HERE to read the full leaked document.
The Hill reported:
The six-paged document suggests that half of appropriations go toward an “Infrastructure Incentives Initiative” to promote private and local investment in projects through grants.
A quarter of the appropriations, according to the document, would be for a “Rural Infrastructure Program” to bolster investment in rural areas.
The White House told Axios that it would not comment on the substance of a leaked document, but said it looks “forward to presenting our plan in the near future.”
Ten percent of appropriations would go toward a “Transformative Projects Program” that would fall under the Department of Commerce. That program would provide “federal funding and technical assistance” to projects that cannot obtain private funding.
Just over seven percent of the appropriations would be devoted to expanding federal lending programs to grow investments. Another five percent would be to establish a “revolving fund” to finance “purchases of federally owned civilian real property.”
It’s unclear how close officials are to finalizing the details of a long-awaited plan, which could slip to next month.
The draft also points to the potential for a fight between the administration and Congress over tolls, a subject lawmakers have been wary of broaching. The leaked memo says states should be awarded the “flexibility” to collect interstate tolls and to utilize toll revenues for infrastructure.
Another proposal included in the leaked memo is the expansion of private activity bonds, a common tool used to finance infrastructure projects. The draft suggests allowing entities to issue advance refunding bonds to refinance private activity bonds. But including this in an infrastructure plan would put the package at odds with the recent GOP overhaul of the tax code, which repealed the tax exemption for new advance refunding bonds. The House tax bill proposed eliminating private activity bonds, but the final bill retained the financing tool.
It’s possible that the leaked draft predates the passage of the tax law. The document is not dated, and the White House has been working on an infrastructure plan for months.
For more on this story, click the "read more" button below.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.