Incoming Senate Minority Leader Chuck Schumer, a Democrat from New York, is signaling bipartisan support for President-elect Donald Trump's infrastructure plan. Trump campaigned on the idea of a trillion-dollar upgrade of the country's infrastructure.
“We think it should be large,” Schumer said, reports ABC News. “He’s mentioned a trillion dollars. I told him that sounded good to me.”
“We’re going to rebuild our infrastructure, which will become, by the way, second to none,” Trump announced after declaring victory in the election, notes Fortune.
According to a campaign position paper, the Trump administration’s infrastructure plan will reward “transactions” over “bureaucracies.” Private companies will be called to build, and own, new infrastructure through tax credits of up to 82 percent of the project’s down payment. Ultimately, the paper states, the $1 trillion plan would be offset by the economic stimulus created.
“We’re not going to oppose something simply because it has the name Trump on it, but we will certainly not sacrifice our principles just to get something done,” Schumer said.
But Republican Senate Majority Leader Mitch McConnell of Kentucky, has voiced concern over the plan, calling it a “trillion-dollar stimulus.”
“It will be interesting to see how this is put together,” McConnell said Dec. 12, notes The Huffington Post. “I hope we avoid a trillion-dollar stimulus.”
One nagging issue between McConnell and Trump is that Trump has discussed establishing an infrastructure task force, which would oversee projects normally overseen by the Department of Transportation, reports The Washington Post. Trump’s pick for secretary of transportation is Elaine Chao, who is McConnell’s wife.
“The Trump folks have reached out on a staff level and discussed this idea,” a source with knowledge of the talks said. “It doesn’t seem particularly well-formed or specific at this point ... there’s not a concrete thing out there that they are asking for support on at the moment.”