Republican senators were frightened when Trump presented them with a colossal infrastructure investment plan: a whopping $ 1,000 billion .
According to the Republican majority leader, Trump's own party, Mitch McConnell, would need to refinance the highway construction plan for $ 287 million before embarking on new financing laws. The Republicans of the chamber expect this to be reduced because, in addition to the 287 million highway plan, there is the 2200 billion CARES plan and an emergency aid plan of 487 billion dollars, we see that it is an overall sum huge, which risks detonating the state deficit. Recall that last year we went briefly to a government shutdown for a $ 17 billion park funding bill. Here we talk about thousands of billions divided into several floors.
In March Trump tweeted about an infrastructure plan that was expected to reach $ 2 billion. This huge plan, however, met with the hostility of the Republican senators who threw a lot of water on the fire until it literally extinguished it. But now things are different, both because the time is different, and for a more logical approach:
- elections are approaching, so it is necessary to show that the government is doing something for the real economy;
- now there are no more doubts about the economic damages brought by COVID-19 and it has been understood that we must spend so much immediately, to avoid spending even more and after;
- the approach is no longer "We spend 2 billion", but "What we offer with a billion", thus focusing not on the figure but on the achievements. There is talk of broadband in rural areas and new water infrastructure for 17 billion. All works that will bring a tangible impact on the population.
Meanwhile, these new investments will inflate the federal deficit, which was already marching on 3.7 billion dollars. But now is not a time for savings.
The article 1000 BILLION DOLLARS: THE TRUMP INVESTMENT PLAN SCARES EVEN THE REPUBLICANS comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/1000-miliardi-di-dollari-il-piano-di-investimenti-di-trump-spaventa-perfino-i-repubblicani/ on Wed, 17 Jun 2020 17:43:03 +0000.