Trump Says He Plans 'Reciprocal Tax' on Some US Trading Partners

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Trump's plan would shift the burden to state and local governments to come up with the money.

This single initiative offered more public funds than the entire infrastructure plan Trump just rolled out.

In addition to his infrastructure plan, Trump requested $50 billion in his fiscal 2019 budget proposal - also released Monday - to fund rural infrastructure, which includes improving broadband internet.

President Donald Trump claims that a $200 billion investment by the federal government will lead to almost $1.5 trillion in new infrastructure spending-when it's leveraged in the private sector over 10 years.

"The private freight rail industry commends the Trump administration for formally beginning the discussion on infrastructure legislation with this document", said Association of American Railroads (AAR) President and Chief Executive Officer Ed Hamberger in a prepared statement.

The blueprint for the 2019 fiscal year abandons the long-held Republican goal of balancing the federal budget within a decade, with deficits projected to peak in 2020 and persist into the foreseeable future amid an aggressive and costly defense buildup.

On Monday, Trump met with several governors and state and local officials at the White House to ratchet up support.

That's a shame, because during his campaign and early presidency Trump showed a forward-looking devotion to the idea of rebuilding the nation's infrastructure.

Trump, who has claimed a wealth of US$10 billion, promised before taking office that he would donate his US$400,000 annual salary.

Republicans and conservative commentators such as Brit Hume of Fox News hammered the constant deficits of the 10-year plan.

"As of a couple of months ago, we have spent $7 trillion in the Middle East".

The president is proposing $200 billion in new federal spending, as part of a total project investment of at least $1.5 trillion.

That hike is expected to result in $149 million in new money this year to fix the state's crumbling roads and bridges, Hall said last week. The reviews can be costly and time-consuming, and streamlining might be desirable, but they also keep the government from wasting money on damaging or unsustainable projects.

Given that the USA fiscal deficit will balloon over 1 trillion dollars next year, Republicans have been wary of another big spending measure, further reducing the possibility of passing the bill this year.