Rep. Bill Shuster (R-PA), chairman of the House Transportation and Infrastructure Committee, expressed his support for President Donald Trump’s infrastructure plan, which was unveiled Monday.
“An infrastructure bill needs to be bipartisan, fiscally responsible, and make real long-term investments in our nation,” Shuster said. “By addressing the long-term sustainability of the Highway Trust Fund, exploring new ways to invest, and ensuring the fast delivery of projects, we can rebuild and improve our highways, water infrastructure, public buildings, rail transportation, and other infrastructure.”
Under the plan, the federal government will invest $200 billion in what will lead to at least $1.5 trillion in investments. Half of the funds will be used to create an incentives program designed for encouraging private, state and local investment.
The remaining funds would be distributed to various programs: $20 billion to the Transformative Projects Program for innovative projects; $14 billion will expand existing credit programs; $6 billion will expand Private Activity Bonds; $10 billion will create the Federal Capital Revolving Fund; and $50 billion will create the Rural Infrastructure Program.
State and local governments will have final decision making over how the federal funds are used.
The proposal also shortens the environmental review process and eliminate regulatory barriers.