Wednesday, August 23, 2017
Earlier this month, Trump spoke fervently about major goals to rebuild our nation’s crumbling infrastructure. It’s clear to us all that America’s roads, highways, bridges, hospitals, government buildings, airports, and sewers are in dire need of repair. Trump touted $200 billion in new spending, and additional incentives for private investment — which really boils down to privatizing American infrastructure.
We’ve seen a decline in infrastructure spending the last several years, and The New York Times reports that “In 34 states, spending on government construction projects was lower last year than in 2007, adjusting for inflation. The trend has continued this year. Public construction spending in June was 9.5 percent lower than during the same month last year.”
As state budgets are cut, projects are halted. So where will this outpouring of money come from? Private investors will step in, with the promise of big tax incentives.
Companies will undoubtedly focus on projects that are the most profitable, keeping labor and supply costs down in the process, rather than on building the infrastructure that is most needed.