President Donald Trump’s infrastructure renewal package has a headline of US$1.5 trillion (S$2 trillion) over 10 years. This somewhat obscures what will be a shift from federal to state and private sector funding, using just US$200 billion in direct federal spending to motivate state and local tax dollars, and private investment, for the rest of the total. This move puts more discretion and responsibility in local hands. It also comes with a pledge to clear projects within two years, instead of under a federal approval process which can take much longer. Folded in is a proposal to sell off some federal assets.
Source: The Straits Times