Story at a glance
- The proposed plan would send more than $1 trillion to state and local governments over 10 years.
- The plan includes expanding transit and broadband.
- Bloomberg’s campaign says it will detail how to pay for the proposal in his forthcoming tax plan.
Democratic presidential hopeful Michael Bloomberg is unveiling a $1 trillion public works plan that his campaign says will bring the nation’s infrastructure into the “21st century while making it smarter, faster, safer and greener.”
Bloomberg is pledging to repair 240,000 miles of roads and 16,000 bridges by 2025 as part of a public works plan that would send more than $1 trillion to state and local governments over ten years.
The plan would allocate $850 billion over a decade to investments in roads, bridges, dams and other infrastructure, as well as establish a $1 billion yearly “pothole” fund for emergency repairs and $100 billion over a decade for cities with the worst water systems.
The proposal also focuses on expanding transit, high-speed rail, fast rail links at 10 of the country’s busiest airports and broadband.
Bloomberg’s plan includes commitments to “save 20,000 lives by 2025 by adopting safe street designs, lowering speed limits, and implementing other safety measures,” and giving millions of Americans more and better transportation options, including “electrifying the highway system and increasing the production of electric vehicles to reduce carbon pollution.”
The billionaire and former New York City mayor isn’t saying exactly how he’ll pay for the sweeping federal infrastructure plan, but Bloomberg News reports those details will be part of his forthcoming tax plan.