The block grants would allot $20 billion for “transformative programmes” meant for new projects rather than rehabilitation of old infrastructure.Another $20 billion is meant to expand the use of loans and private activity bonds, a common tool used to fund infrastructure projects. The last $10 billion would go into a “capital financing fund”.
The allotted $200 billion comes from cuts within the impending White House budget, The Hill reported. Meanwhile, the Democrats have already denounced the anticipated package, calling for increased direct federal investment to adequately address the nation’s crumbling roads, bridges and other public works.But the White House said the proposal was just the beginning of the negotiations. The plan will fall under the purview of at least six House committees and five Senate committees, according to administration officials.The delivery comes after several delays and amid questions over revenue sources for a proposal, for which Trump has provided varying numbers since his presidential campaign.
