President Donald Trump plans to unveil details of his long-awaited plan to generate at least $1.5 trillion in infrastructure improvements over 10 years next Monday, a White House official said on Tuesday.
Trump will issue “infrastructure principles, which will outline a plan” to boost infrastructure and call for cutting regulatory burdens to speed approval for new projects, the official said.
The administration’s plan will call for $200 billion in new federal funding, offset by unspecified spending cuts, including $100 billion in cost-sharing payments for state and local projects and $50 billion dedicated for rural projects
The remaining $50 billion will be largely split among “transformative” projects such as high-speed trains and funds for federal transportation lending projects.
The White House separately plans to unveil its budget proposal on Monday as well, the official said.