The Forbes report also suggested that investors could be invigorated by Trump’s choices to lead his infrastructure council — New York City developers Richard LeFrak and Steven Roth. Both LeFrak and Roth, who have led decades-long, successful careers in real estate development around the country, will oversee Trump’s infrastructure “task force”, a council of 15 to 20 builders and engineers who the president-elect will look to for cost-monitoring and other oversight. LeFrak’s and Roth’s positions have been likened to that of other department “czars,” who hold great sway over policy but are not subject to Senate confirmation like a proposed Cabinet member would be.
Although an overhaul to the nation’s crumbling roads and bridges has proven to be a bipartisan issue, Trump is expected to knock heads with Democrats in the coming months over his strategy on how to fund his program. The plan as is provides an 82% tax credit in exchange for private equity investment, a point that Senate Minority Leader Chuck Schumer, D-NY, has derided as a “gimmick.” He said that even though he believed both sides could come to an agreement within the first 100 days of the new administration, direct federal spending must play a role in any major infrastructure plan to prevent favoritism toward projects that don’t generate revenue, like airports or toll roads. In response, Senate Majority Leader Mitch McConnell, R-KY, said Republicans would resist any proposal of massive stimulus spending.
Credit: constructiondive.com
