President Donald J. Trump's Plan to Expand Infrastructure Investment Will Build A Stronger American Economy
March 28, 2018
GROWING THE AMERICAN ECONOMY: Expanding infrastructure investment would increase American economic growth and prosperity.
- President Donald J. Trump's proposal for rebuilding infrastructure in America uses $200 billion in Federal funds to spur at least $1.5 trillion in infrastructure investments.
- According to an analysis by the Council of Economic Advisers (CEA), a 10-year $1.5 trillion infrastructure investment program could add between 0.1 and 0.2 percentage points to annual average gross domestic product (GDP) growth.
- Stronger GDP growth from increased infrastructure investment would help boost the American economy, raise wages for American workers, and improve the standard of living in American communities.
GENERATING ECONOMIC OPPORTUNITY FOR AMERICAN WORKERS: New investments in infrastructure would provide American workers with well-paying job opportunities.
- A major infrastructure investment program would provide employment opportunities for Americans who did not attend college.
- CEA estimates that a $1.5 trillion infrastructure investment would result in the employment of 290,000 to 414,000 additional infrastructure workers, on average, over a ten-year window.
- There are an estimated 350,000 infrastructure workers currently unemployed and available to fill positions.
- The positive effect on employment could be even greater if States loosen licensing requirements that prevent workers from working across State lines.
- Increasing infrastructure employment would especially benefit workers with fewer years of education.
- In 2016, 62 percent of infrastructure workers had a high school degree or less.
- Infrastructure jobs pay workers without any college education median hourly wages that are 14 percent higher than other occupations.
- Skilled trade jobs often involved in infrastructure work provide a wage premium of 32 percent.
- President Trump's plan includes reforms to improve access to education and workforce-development programs, including expanding Pell Grant eligibility to high-quality, short-term programs and reauthorizing the Carl D. Perkins Career and Technical Education Act.
- These reforms would help prepare American workers to fill infrastructure jobs as well as jobs in other sectors of the economy.
DELIVERING PROJECTS TO AMERICAN COMMUNITIES SOONER: Inefficient Federal permitting and review processes are slowing down infrastructure projects, delaying community access to needed improvements.
- The time it takes for infrastructure projects to navigate Federal environmental reviews is increasing, creating further delays for much-needed infrastructure projects.
- The final Environmental Impact Statements issued in 2016 took an average of 5.1 years to complete, up more than 8 percent from 2014.
- Average Federal permit approval times have also increased in some sectors.
- Reforming Federal regulations and permitting processes to speed up project completion times would give communities faster access to rebuilt and modernized infrastructure.
- Reducing project completion times would give communities quicker access to the time savings, health and safety benefits, and increased business activity that come along with infrastructure investments.
- The President's plan for rebuilding infrastructure in America shortens the environmental review process to two years and establishes a "one agency, one decision" structure.
Donald J. Trump, President Donald J. Trump's Plan to Expand Infrastructure Investment Will Build A Stronger American Economy Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/335991