President Trump’s budget proposal will mark the “first step” in his $1 trillion infrastructure push, the White House said Friday.
Press secretary Sean Spicer tweeted that “next week’s budget proposal is the ‘first step’ in @POTUS's $1 trillion infrastructure plan.”
The tweet comes after Bloomberg News reported Thursday night that the president’s spending blueprint will call for $200 billion in federal funding over 10 years to upgrade the nation’s ailing infrastructure.
It’s also expected to include incentives to help encourage more private-sector investment — a chief priority in Trump’s infrastructure proposal.
Sixteen different agencies are working on Trump’s effort to revitalize U.S. roads, bridges, airports and other public works.
Transportation Secretary Elaine Chao said the administration will unveil a broad sketch of the plan before the end of the month, but a more detailed legislative package won’t be released until later this summer.
Trump’s comprehensive rebuilding plan is expected to contain $200 billion in taxpayer dollars to leverage $1 trillion worth of overall investment through public-private partnerships.
It’s also expected to streamline the permit-approval process and contain some regulatory, administrative and policy reforms to help speed up project delivery, Chao said.