President Trump will take his first trip abroad on Friday to Saudi Arabia, where he hopes to secure a $40 billion investment for his $1 trillion infrastructure plan. At home, Trump's plan was rebuffed by Texas legislators.
A report from Bloomberg News indicates that the Saudi kingdom's sovereign wealth fund, which is expected to grow to $2 trillion, "is set to announce plans to deploy as much as $40 billion into U.S. infrastructure, according to people familiar with the matter."
Keith Laing, formerly the transportation reporter for The Hill, reports for The Detroit News that taxpayers will fund $200 billion of Trump's infrastructure plan. According to Transportation Secretary Elaine Chao, the public funds would "be used to leverage $1 trillion in infrastructure investment over the next 10 years."
The remainder of the money would come from private companies that would enter into partnerships with local and state governments to provide financing that is necessary to complete expensive construction projects in exchange for revenue that would be generated by things such as road tolls or rail fares.
That public-private vision for infrastructure investment is not sitting well in Texas. "Wary of public opposition to new highway tolls, the Texas House voted on May 5 to reject a bill that would have allowed the partnerships, known as P3s, to participate in 18 highway projects costing as much as $30 billion," reports Mark Niquette for Bloomberg Politics.
The defeat leaves the second most-populous U.S. state unable to tap into the partnerships to finance the infrastructure improvements, even as Trump is proposing to expand their use.
Texas would not be the only state not being to take advantage of a Trump infrastructure plan contingent upon P3 deals. "Nationwide, 13 states have yet to adopt legislation authorizing some form of public-private partnership deals, according to Moody’s Investors Service," adds Niquette.
Hat tip to AASHTO Daily Transportation Update.
FULL STORY: Saudis to boost US ties with $40bn investment: Report
50-Cent Gas Tax Increase Ruled-Out by GOP Congressional Leaders
News of the GOP's rejection of a gas tax increase comes from reports on two recent private meetings between Republican leaders and the Trump Administration.
What's Behind the Removal of Public-Private Partnerships from Trump's Infrastructure Plan?
Partnering with the private sector carries risks. Witness the mess that followed the selection of a private firm to build an interstate in Indiana in 2014 that Vice President Mike Pence should have prevented in his prior position as governor.
Transportation Secretary's Resignation Announcement Greeted With Derision
Transportation Secretary Elaine Chao became the first cabinet secretary to announce her resignation due to the storming of the Capitol by Trump supporters, but at least one high-profile member of congress has derided the announcement.
Montreal Mall to Become 6,000 Housing Units
Place Versailles will be transformed into a mixed-use complex over the next 25 years.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Four Reasons Urban Planners Can’t Ignore AI
It’s no longer a question of whether AI will shape planning, but how. That how is up to us.
Bend, Deschutes County Move to Restrict Major Homeless Encampment
City and county officials are closing off portions of an area known as Juniper Ridge where many unhoused residents find shelter, hoping to direct people to housing and supportive services.
High Housing Costs Driving Down Transit Ridership in LA
When neighborhoods gentrify and displace lower-income residents, transit ridership suffers, new research shows.
Iowa Legalizes Accessory Dwelling Units
A new law will allow property owners to build ADUs on single-family lots starting on July 1.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Mt Shasta
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)
Regional Transportation Commission of Southern Nevada