Discussions Focus On Coordinated Approach To Government, Private Sector Investments
As the inauguration approaches, President-elect Trump is organizing a task force to implement his plans to spend between $500 million and $1 trillion on infrastructure projects. The Washington Post reports the early discussions – which appear to be more conceptual at this point – include key members of the Trump transition team, “including his son-in-law Jared Kushner, senior counselor Stephen K. Bannon, senior policy adviser Stephen Miller and Gary Cohn, whom Trump has tapped to head the National Economic Council.” The point person for the initiative is not expected to be Cabinet level, “but would play a critical role in coordinating among federal, state and local officials as well as private investors as the new administration prepares to inject hundreds of billions of dollars into projects across the country.” The article notes infrastructure spending “may be one of the few areas where Trump and Democrats could find common ground, and his aides are looking for someone who can build bridges with members of the other party.”
On a related note, the incoming Trump Administration’s infrastructure agenda is also encouraging the private sector to prepare to invest in new projects, for example in the energy sector. The Steubenville (OH) Herald Starreported natural gas industry leaders are “pushing for billions of dollars worth of pipeline infrastructure to help grow the economy” because they “believe President-elect Donald Trump’s administration will allow them to bolster their business.”
What This Means For Small Business
Small businesses will clearly benefit from a well-conceived and properly financed infrastructure program. A large scale building program that develops bridges and roads as well as broadband internet capability while not boosting the Federal deficit will provide a much-needed boost to the economy.
Additional Reading
The New York Times reports and WTOP-FM also report on Trump’s infrastructure plans.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.
