WASHINGTON, US President Donald Trump touted his proposal for rebuilding the US’ infrastructure including the use of USD 200 billion in federal funds to spur at least USD 1.5 trillion in investments.
“Now is the time to rebuild our country, to take care of our people, to fight for our great American workers,” the president said to workers in Ohio.
His proposal is set to return infrastructure decision making to the state level in order to allow them to invest in their own specific needs, said a White House statement.
“We will transform our roads and bridges from a source of endless frustration into a source of absolutely incredible pride,” he highlighted.
“The proposal will get Washington out of the way of needed infrastructure improvements by eliminating regulatory barriers and streamlining permitting processes,” it added.
The Council of Economic Advisers (CEA) estimated that a 10-year USD 1.5 trillion-infrastructure investment could boost average GDP between 0.1 and 0.2 percent. It would also employ 290,000 and 414,000 additional workers on average over 10 years.
Since Trump took office, nearly 2.5 million jobs have been created including 245,000 in manufacturing and 300,000 in construction.
“That’s what I do, is I build. I was always very good at building. It was always my best thing. I think better than being president, I was maybe good at building, like you people. You’re good at building,” Trump said. (end) ak.mb
Source: Kuwait News Agency