On Monday, the White House unveiled President Donald Trump's much anticipated infrastructure plan that aims to restore the nation's roads, bridges, tunnels, and more.
The infrastructure plan includes $200 billion in federal funding over the next 10 years and aims to raise up to $1.5 trillion in total in local investment. The plan includes incentives for investments from state and local governments, as well as private firms.
The path to passing the budget looks rocky for now.
The proposal fits into President Donald Trump’s broader plan to boost U.S. oil and gas development by slashing red tape, something that has cheered energy industry but raised concerns among environmentalists and Democratic lawmakers.
The infrastructure proposal released on Monday could speed up the permissions of U.S. natural gas pipelines, including by cutting Congress out of the process for allowing them to cross national parks. This is among the major reasons why the proposals designed to encourage spending on improvements by states, localities and private investors face an uphill battle in Congress.
The $1.5 trillion infrastructure proposal would give the interior secretary the authority to approve natural gas pipelines that cross the country’s national parks, changing the requirement that Congress authorize such projects.
In financial terms, Trumps’ budget proposal is set to increase government spending adding more pressure on inflation growth which could put the US economy in an overheated territory earlier than expected.