PRESIDENT DONALD TRUMP announced a $100 million plan Wednesday to rebuild the country’s infrastructure, with the president saying he has already met with leaders in the federal government and with Congress to develop the plan.
Trump said that he will announce the plan Thursday, but that it would not be the full $100-billion plan that he promised during his presidential campaign.
Instead, Trump will unveil a plan to create a new federal program that would use federal money to create “high-speed rail” in the United States, the president said.
He said the federal money would be used to build a new train and that this would be funded by the full Federal Transit Administration (FTA).
The plan would be the first time that a president has created a federal program to rebuild our infrastructure, said Trump, who has spent the last year laying out plans to make the country a great place for business.
“I have met with governors and mayors and other mayors and governors to learn their ideas about how to get our infrastructure back on track,” Trump said.
“We are going to take the federal dollars and put them back into the American people.”
The president said the plan would also be “the biggest infrastructure package ever” in history, and would require “everybody” to pay for it.
The plan will require that every American have at least $1,000 in annual income, and that Americans have to pay an extra $10,000 per year to qualify for the Federal Transit Service (FTS) benefit.
The federal government already reimburses states for their FTS benefits.
The new plan would make those payments more generous.
Trump will propose that the federal program, called the High Speed Rail Program, be paid for through an increase in the minimum wage.
The plan would increase the minimum hourly wage to $15 per hour, which is what the president initially proposed for federal workers, but the FTS will provide additional payment, according to the White House.
In a press conference Wednesday, Trump said that his plan would allow Americans to “receive the financial relief” that is promised in the FTF plan.
“We will put in place a plan that will provide $1 trillion in additional funding to make sure that our country is able to take advantage of the benefits of this program,” Trump told reporters.
“It will provide for an additional $1.5 trillion in infrastructure investment, $1 billion for the construction of high-speed lines to get to places that we have never gone before, and it will provide the FTC with another $1-billion in additional revenues to help them make these investments,” he said.
“And we’re going to be very, very strong with this program.
We’re going do it in a way that benefits the American worker and the American taxpayers.”
Trump’s plan would provide $500 million to build the project, but it would also create a “substantially more substantial” program to provide transportation and communication services to people in need, the administration said.
Trump is also proposing to spend $1 million to create an “American jobs bank” to provide up to $10 billion for low-income Americans.
The new plan also includes an infrastructure trust fund for infrastructure, as well as an “expedited payment plan” that would give states additional money for infrastructure improvements.
The president will also unveil a $250 billion plan to revitalize the American economy, including a $200 billion investment in infrastructure and a $150 billion loan to help the country create new jobs.
The Trump administration has been promising a plan for months to spend more than $1tn over the next decade to rebuild infrastructure.
The White House has repeatedly claimed that Trump has promised $1trillion in infrastructure spending during his campaign.
But on Wednesday, White House Press Secretary Sarah Huckabee Sanders said that was not true.
“The $1 trillion that the president has proposed is in fact a proposal that is just not in the budget that we released,” Sanders said.
The $250bn plan will be paid by the Federal Reserve.
The administration said it will create a $2 trillion “reinvestment fund” to help boost the economy, and Trump will use the money to increase taxes on the wealthy.
Trump is also looking at spending $500 billion to expand Medicaid to cover millions of Americans, including the elderly, children, the disabled and the poor.
Trump has been a staunch supporter of expanding Medicaid to expand access to affordable care.
The Affordable Care Act (ACA) expanded Medicaid coverage to nearly 4 million people in 2015.
Trump’s health care plan is a massive tax cut that will benefit wealthy Americans, and also would benefit the wealthy and corporations.
The tax cut will help boost economic growth and help reduce the deficit, but will also increase the deficit because of the way the tax code is structured, according.
The proposed tax cuts will also add trillions to the national debt.