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President Trump unveils massive infrastructure spending plan

President Trump unveils massive infrastructure spending plan

While the administration has not explicitly laid out a plan for revenue, local governments will likely turn to tolls and other user fees if asked to come up with more of their own funding in order to win federal incentive grants.

Trump's comments were in response to criticism from Sen.

U.S. President Donald Trump said on Monday he would push for a "reciprocal tax" against countries, including U.S. allies, that levy tariffs on American products, but officials did not provide details on how such a tax would be structured or what goods it would apply to.

President Trump described his $200 billion infrastructure proposal as just the opening gambit in a bipartisan process on Tuesday, suggesting that he's open to a bigger price tag or a different funding mix to upgrade the nation's transportation and public buildings.

Given that the US fiscal deficit will balloon over 1 trillion dollars next year, Republicans have been wary of another big spending measure, further reducing the possibility of passing the bill this year. It also invests $50 billion for rural infrastructure, which includes establishing broadband internet access for those areas.

Mulvaney, who spent his time in Congress fighting to rein in the federal debt, told the Senate during his testimony he knew the budget does not balance out over a 10-year period and added he warned of that possibility last year.

Trump's budget calls for $571 million in additional funding to hire 2,000 more Immigration and Customs Enforcement officers and agents.




Republicans have been split on the idea. "I think most military parades would be connected with some major ending of a conflict the United States is in, and a kind of a celebration, rather than a showplace", Grassley said. "But despite these positive steps forward, the budget falls short in fiscal responsibility". "Seven trillion dollars. What a mistake", Trump said, using an oft-disputed figure about US spending on wars in the Middle East.

Some conservative groups seemed skeptical. Thad Cochran, said in a statement that he also plans to focus on spending for this year before committing to spending for next year. "It builds on last week's budget agreement by focusing on rebuilding our national defense and promoting a stronger economy".

"The private freight rail industry commends the Trump administration for formally beginning the discussion on infrastructure legislation with this document", said Association of American Railroads (AAR) President and Chief Executive Officer Ed Hamberger in a prepared statement.

Others were also cautious.

"These are spending caps", Mulvaney said.

"The message is really simple: You don't have to spend it", said Mick Mulvaney, Trump's budget director.


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