The Trump administration is preparing an up to US$1 trillion infrastructure package focused on transportation projects as part of its push to spur ...
REUTERS: The Trump administration is preparing an up to US$1 trillion infrastructure package focused on transportation projects as part of its push to spur the world's largest economy back to life, a source familiar with the situation said on Tuesday.
President Donald Trump, a Republican, is running for re-election in November. He is eager to boost the economy to bolster his political prospects after criticism of his handling of the coronavirus pandemic and the response to protests after the death of a black man in police custody in Minneapolis sparked protests worldwide.
The administration proposal would extend the law authorizing highway and other surface transportation funding. The current law, known as the FAST Act, authorized US$305 billion over five years and is set to expire on Sept. 30.The White House is likely to propose a 10-year reauthorization of the measure, which would be the longest-ever surface transportation bill and is set to release its proposal as early as next week, two other people briefed on the matter said.
Republicans have been voicing concerns about deficit spending after years of downplaying it. Senate Majority Leader Mitch McConnell has expressed reservations about a big infrastructure spending bill, and new concerns about debt, especially with the huge cost of the pandemic response, could be a hurdle.
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