The Trump Administration released its outline for its $1.5 trillion infrastructure spending plan that the president announced during the State of the Union Speech two weeks ago.
The program will rely on $200 billion of federal spending to spur at least $1.5 trillion in infrastructure investments with state, local, tribal, and private partners. This follows the budget deal enacted last week.
Specific to expanding infrastructure financing programs will be $20 billion with $14 billion going directly to expanding existing credit programs such as Transportation infrastructure Financing Authority, Water Infrastructure Financing Authority, Railroad Financing Authority, and rural utility lending with $6 billion going to expanding Private Activity Bonds. The President’s plan would also invest $10 billion to a new Federal Capital Revolving Fund, which will reduce leasing of Federal real property which would be more cost-effective to purchase. A new fund will allow some incremental revenues from energy development on public lands to pay for the capital and maintenance needs of public lands infrastructure. And, $50 billion of the $200 billion in direct Federal funding will be devoted to a new Rural Infrastructure Program to rebuild and modernize infrastructure in rural America. The bulk of the dollars in the Rural Infrastructure Program will be allocated to State governors, giving States the flexibility to prioritize their communities’ needs and incentivize the efficient development and management of water infrastructure, in part, by providing more flexibility to the U.S. Army Corps of Engineers and its partners.
The President’s plan would also reform Federal education and workforce development programs to better prepare Americans to perform the in-demand jobs of today and the future. This includes making high-quality, short-term programs that provide students with a certification or credential in an in-demand field eligible for Pell Grants, reforming the Perkins Career and Technical Education Program to ensure more students have access to high-quality technical education to develop the skills required in today’s economy, and better targeting Federal Work-Study funds to help more students obtain important workplace experience, including through apprenticeships.
Overall, there is plenty of potential for the recycling industry. The Administration’s proposal will provide financing opportunities for training workers to operate and repair heavy machinery as well as improve our nation’s transportation infrastructure. In addition to improving all modes of transportation, these projects will require sourcing materials such as steel, aluminum, rubber and other construction materials. Replacing our nation’s water infrastructure is also an administration priority that will require substantial amounts of materials including steel, copper and aluminum.
For more information on the President's Infrastructure Plan
, please contact Billy Johnson