Infrastructure

Trump’s Infrastructure Plan for Wall Street, Not Main Street

When it comes to building the infrastructure and creating the jobs that Americans need, President Trump’s plan is a bridge to nowhere. It’s more likely to create tax shelters for wealthy investors than highways and high-wage jobs for working Americans.

  • Financial Shell-game: While sold as a $1.5 trillion plan, Trump’s infrastructure budget includes, at most, $200 billion in federal funds. The rest is supposed to come from financially strapped state and local governments and, much more likely, private investors.
  • Serving Wall Street, Not Main Street: Wall Street will be calling the shots. Wealthy investors tend to shy away from the projects working Americans need, from mass transit to school buildings. Instead, you can expect more sell-offs of the people’s assets—highways, bridges, airports, air traffic control, and public power systems like the Tennessee Valley Authority. To boot, working Americans will be paying steeper utility rates, increased tolls on the highways, and higher parking costs at airports.
  • Goodbye, Good Jobs: The Trump Administration’s 50-page plan says little about new and better jobs for working Americans, including unemployed or under-employed construction workers. But it does discourage hiring high-wage, high school union workers.
  • Hoosier Horror Show: The model for privatizing infrastructure projects may be Mike Pence’s miserable record as governor of Indiana, where a Spanish company was hired to lead the extension of I-69 from Bloomington to Martinsville. Indiana taxpayers were stuck with a prolonged project, cost overruns, increased traffic accidents, and lengthened commute times.

Categories: Infrastructure, Jobs