Bloomberg Proposes $1 Trillion Public Works Plan

[left-of-center2012]

Michael Bloomberg is pledging to repair 240,000 miles of U.S. roads and 16,000 bridges by 2025 as part of a comprehensive public works plan that would send more than $1 trillion to state and local governments over a decade.

Bloomberg’s plan calls for allocating $850 billion over 10 years for roads, bridges, dams and other infrastructure, with additional spending such as a $1 billion annual “pothole” fund for emergency repairs and $100 billion over a decade for cities with the worst water systems. He would also focus on airports, including “fast rail links” to 10 of the busiest, as well as expanding transit, high-speed rail and broadband.

The plan also proposes a new Climate Resilience Finance Corporation with $100 billion annually in U.S. Treasury credit authority to provide loans, loan guarantees and grants to states, cities and the private sector for green projects.

Previous efforts to enact sweeping federal infrastructure plans have languished without a consensus on how to pay for them, and Bloomberg isn’t saying yet how he’ll fund his. Those details will be part of his forthcoming tax plan, the campaign said.

https://www.bloomberg.com/news/articles/2020-01-22/michael-bloomberg-unveils-1-trillion-public-works-plan?srnd=politics-vp

[blm]

1. Needed this for last 2 decades.