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US says no to public-private partnerships in funding infrastructure
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Time:2017/10/9 17:58:00 |
THE public-private partnership funding element of US President Donald Trump's US$1 trillion infrastructure spending plan, is being shelved, reported American Shipper.
President Trump and White House officials have struggled to finalise key elements - namely financing - of the infrastructure plan amidst calls for tax reform and health care overhaul. As a result, Mr Trump has decided that states and localities would cover most of the costs to make repairs and upgrades to infrastructure.
A White House official told the Chicago Tribune that there are "legitimate questions" about a public-private financing approach and that the administration has researched such approaches and found "they are certainly not the silver bullet for all of our nation's infrastructure problems".
During his presidential campaign, Mr Trump had championed a public-private partnership to fund infrastructure plans. Just this past May, the White House stated that "private investors would underwrite projects in exchange for a share in future profits".
In June, Mr Trump stated that his plan involved partnering with state and local governments, adding that the proposal includes an investment in new federal support for infrastructure, which will be matched by significant private, state and local dollars.
The Trump administration's 2018 budget revealed that the federal government would only cover $200 billion of the $1 trillion total over 10 years, leaving quite a bit left of the proposed infrastructure plan for states and private interests to cover.
"Private investors might be willing to participate, but it's likely going to be a tough sell, as infrastructure assets don't tend to generate a particularly high return on investment, American Shipper noted. | | | | | | | |
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