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Trump Unveiling $1.5 Trillion Infrastructure Plan
The long-awaited U.S. infrastructure plan is set to be unveiled today. President Trump will lay out a $1.5-trillion proposal that largely will be funded by state and local government sources.
The plan will utilize $200 billion in federal funding that would come from cuts to existing programs. That would be leveraged along with state and local taxes, to address needed road, highway, port and airport infrastructure repairs.
Administration officials that previewed the plan over the weekend noted two key components: an injection of funding for new investments and help speeding up repairs, including a streamlined permitting process.
Half the money would go to grants for transportation, water, flood control, polluted site cleanup. The incentives could be used by states, local governments and other project sponsors for no more than 20% of the cost. Roughly $50 billion would go toward rural projects, such as transportation, broadband, water, waste, power, flood management and ports.
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