In February, President Trump publicized his infrastructure plan and requested Congress formulate a bill to “stimulate at least $1.5 trillion in new investment over the next 10 years.”
To do so, the proposal featured three key components, writes Timothy Hegarty, Lecturer in Professional Studies for the M.S. in Construction Administration program at Columbia University’s School of Professional Studies, in the New Jersey Law Journal. Those three components are:
1. Congress would raise an additional $200 billion in revenues
2. State and local governments would use available resources to fund 80 percent of federal projects
3. Private groups would be attracted to invest in public infrastructure
”The proponents of the Plan highlight targeted federal investments, encouraged innovation, streamlined project delivery, and help for transforming the way infrastructure is designed, built and maintained, incentives the President believes will encourage across-the-board investment in infrastructure,” writes Hegarty, who developed and has taught Legal Issues in Building Construction since 2006.
States and localities will receive incentives in the form of grants. However, Trump’s plan could potentially exclude New Jersey. Hegarty deconstructs and further explains the concept of private investment and the series of legal actions required of New Jersey officials to ensure their inclusion in the plan.
Read the full story at New Jersey Law Journal and learn more about the M.S. in Construction Administration program at Columbia University’s School of Professional Studies.
