A six-page $1 Trillion infrastructure draft plan was leaked to Axios by the White House ahead of its scheduled release of the full plan by the end of the month.
“We are not going to comment on the contents of a leaked document but look forward to presenting our plan in the near future,” said Comment from White House spokeswoman Lindsay Walters.
Here’s the draft.
According to the draft, the Infrastructure Incentives Initiative “encourages state, local and private investment in core infrastructure by providing incentives in the form of grants. Federal incentive funds will be conditioned on achieving milestones within an identified timeframe.”
The III accounts for 50% of total appropriation.
Among other items mentioned in the draft are:
- Rural Infrastructure Program, which accounts for 25% of total approbation
- Federal Credit Program, which accounts for 7.05% approbation
- Public Lands Infrastructure Fund
- Disposition of Federal Real Property
- Federal Capital Financing Fund, which accounts for 5% of total approbation
- Private Activity Bonds
The draft offers incentives for state and local governments, private developers, metropolitan authorities, and regional authorities to get busy on different infrastructure issues such as passenger rail, surface transportation, maritime and inland waterway ports, flood control, water supply, hydropower, water resources, drinking water facilities, and stormwater facilities. It also provides incentives for Brownfield and Superfund sites.
One of the good measures from this is that those who are incentivized must demonstrate how they will receive non-federal funds to make sure the above projects are completed.
The majority of the costs will be dependent upon private funding, as individual grants cannot exceed 20% of total project costs and individual states cannot receive more than 10% of the amount available.
It will be interesting to see what the impact of the full plan will have on markets and the economy once it is released.
For now, many are excited to see the proposals that are being laid out.
Article posted with permission from Freedom Outpost