As was widely expected, the White House has leaked what appears to be a six-page rough draft of its $1 trillion infrastructure plan to Axios as it rushes to release a fully formed iteration of the plan before the end of the month.
The draft, which can be viewed below, provides incentives for state and local governments - as well as private developers, metropolitan authorities, and regional authorities - to break ground on a range of different infrastructure products, including: Surface transportation, passenger rail, maritime and inland waterway ports, flood control, water supply, hydropower, water resources, drinking water facilities, storm water facilities as well as Brownfield and Superfund sites.
Applicants must show how they plan to attract non-federal funding to ensure that the projects are completed. They must also explain how the projects will spur economic growth.
Individual grant awards can't exceed 20% of total project costs and any individual state can't receive more than 10% of the amount available - which means most of these projects will be heavily dependent on private funding...
In light of New York City's struggles with its subway, the deteriorating New Jersey Transit system - one of the most heavily used public transit systems in the world - the elements of the plan pertaining to rail and transit projects were particularly interesting...
Leaked details of the Administration's "infrastructure plan". Here are the rather skinny proposals for transit and rail. pic.twitter.com/gOa9aT3ESv— Dan Ryan (@danjryan) January 22, 2018
Critics complained that the plan lacked details, appeared thrown together, and relies too much on privatization to revitalize public roads and other public services...
Shocker - Trump's infrastructure plan is hot garbage. 6-page outline I could have thrown together over lunch that overlooks key infrastructure like our power distribution grid and looks like a big privatization grab. https://t.co/ksVmCvaXsk— Jon Niola (@JonNiola) January 22, 2018
Treasury yields spiked in early December when Bloomberg reported that Trump's infrastructure plan would be released before his Jan. 30 State of the Union.
This time, the leaked plan didn't have much of an impact on markets as stocks rallied following a Senate vote to reopen the government. Infrastructure stocks were conspicuously docile after the report.
Read the entire outline below: