Friday, June 16, 2017

Why Trump's So-Called Infrastructure Plan Is Good for Wall Street But Bad for America
"Donald Trump’s so-called infrastructure plan is a huge giveaway to Wall Street that fails to create the millions of jobs we need to modernize our roads, bridges, water systems, rail, airports, levees and dams. At a time when the American Society of Civil Engineers says we need to spend $2 trillion above current spending levels just to get our infrastructure back to a state of good repair, Trump actually cuts direct federal spending on our crumbling infrastructure by nearly $145 billion over the next decade. This would force state and local governments to shoulder more of the financial burden for our infrastructure needs at a time when they can least afford it. Just like Trump’s “health care” bill is actually a $231 billion tax cut for the top 2 percent, his infrastructure plan would create $200 billion in new tax loopholes and other giveaways for wealthy investors, and it would reward corporations that have stashed their profits overseas with huge tax cuts. Under Trump’s proposal, billionaires on Wall Street, wealthy campaign contributors and even foreign governments would receive hundreds of billions in tax breaks to purchase our highways, airports, and water treatment plants. They would then be allowed to impose huge new tolls and fees on the backs of American commuters and homeowners. The reality is that Trump’s plan to sell off our nation’s highways, bridges, and other vital infrastructure to Wall Street, private investors, and foreign governments is an old idea that does not work."