- Months before the general election, the White House is working on a $1 trillion infrastructure plan.
- Trump campaigned on spending trillions to revamp the country’s roads, bridges, and airports.
- The cost is likely to turn off many Congressional Republicans.
The stock market has turned bullish again following an announcement that President Trump’s administration is working on a $1 trillion infrastructure proposal.
According to reports, the majority of the proposed funds will go towards traditional infrastructure such as roads and bridges. Funds will also be allocated to rural broadband and 5G wireless infrastructure.
But if past infrastructure initiatives by the Trump administration are anything to go by, equity bulls are mistaken.
The Trump administration’s infrastructure plans have become something of a joke. “Infrastructure Week” has become a reference to any period in the administration’s life marked by extraordinary policy failures, chaos, or just plain incompetence.
There is no indication that this time will be different.
Here are five instances demonstrating that the new infrastructure plan is doomed like all others before it.
Infrastructure was a priority for Trump’s first 100 days
On the campaign trail four years ago, Trump promised that within the first 100 days of his administration, he would ask Congress to approve the American Energy & Infrastructure Act. The approval would lead to a $1 trillion investment in infrastructure.
However, the 100th day of Trump’s presidency passed without this happening.
Inaugural infrastructure week overshadowed by bombshell testimony
The initial Infrastructure Week was to take place in June 2017. But the Trump White House didn’t release any plan for the event intended to garner support for a $1 trillion infrastructure plan.