Trump: ‘We’re going to rebuild our country, and I think we’re going back to the way we used to do things’
The Trump administration is set to spend $1.9 billion on infrastructure projects over the next five years, but it appears to have already begun rebuilding what is left of America’s infrastructure.
The Trump Administration has proposed spending $1,600 for every new construction job, and another $1 billion for projects that provide critical infrastructure such as bridges, tunnels and other public infrastructure.
But it’s not just construction jobs that will be impacted by the $1 Billion.
A new report from the National Association of Home Builders reveals that there are some projects that will require billions of dollars in taxpayer funding to complete.
The National Association’s report, “American Infrastructure: A Vision for a Stronger America,” details the cost of nearly a billion dollars in infrastructure projects across the United States.
“The report shows that the $4 trillion in infrastructure investment that the federal government has spent over the past several decades has not only contributed to economic growth, but also contributed to a better quality of life and lower rates of crime and disorder,” the report states.
“That’s because we have more than enough infrastructure to support a strong economy.
Our cities, towns and suburbs are built with our tax dollars to provide the infrastructure needed for our communities.”
The report further states that, “The Trump Administration’s proposal would cost the taxpayers $1 trillion over the decade 2021-2026.
That’s more than $1 for every person, $3 for every job, $2 for every vehicle, and $5 for every home built with taxpayer money.
This is the most expensive plan we have seen to date to address America’s future infrastructure needs.”
“This is a massive investment, and we know how expensive it is,” the NRHB said.
“The Department of Homeland Security has estimated that a complete rebuilding of our infrastructure would cost $4.8 trillion over five years.
A full rebuilding of the nation’s infrastructure will not only increase the country’s economic growth and provide job creation and new investment, it will also save taxpayers millions of dollars over the long-term by reducing the risk of serious economic crashes.
This Administration is proposing to spend an unprecedented $1 TRILLION on infrastructure investments.”
The NRHB estimates that the Trump Administration will spend $4,400 for every additional job created by the proposed spending.
However, the NRHC cautions that this does not take into account the cost and benefits of projects that may require billions in additional taxpayer funding.
It states that if the proposed federal funding were to be used solely to pay for construction, the number of construction jobs would be $3.8 billion lower in 2021 and $3 billion lower by 2027.
According to the NRHCA, this will result in an additional $6 billion in annual federal tax revenues that would be used to finance projects that are required to be funded through the Federal Land Bank program, which has been used to build roads and bridges since the 1960s.
There is also a $2 billion reduction in state and local tax revenues from the proposed $4 billion spending.
The NRHC’s report also cautions against using tax revenues to fund other government spending.
It states that it will be hard to get Congress to fund this project, but “it is imperative that our elected officials understand the true cost of this wasteful spending.”
“The $1 Trillion Infrastructure Spending Plan is a huge waste of taxpayer money,” said NRHC President and CEO Mark Zandi.
“It is simply irresponsible and unwise to spend trillions of taxpayer dollars to support projects that cannot be funded using tax dollars.
This plan is an attack on America’s taxpayers and is a recipe for disaster.”
Trump has also proposed spending hundreds of billions of taxpayer funds on infrastructure upgrades to make up for the billions of additional dollars that have already been spent on infrastructure.
In his first 100 days in office, President Trump has proposed more than 100 trillion dollars in federal spending to make things up for spending cuts that have been made by the Obama Administration.
Trump also has proposed that the United Nations provide $100 billion to build and expand infrastructure in the United State, a request that was met with bipartisan opposition from lawmakers.