Infrastructure projects cost money. No amount of hand waving or fancy financial jargon can overcome this fact. Unfortunately, this hasn’t stopped the Trump administration from trying.
Throughout his presidential campaign, Donald Trump repeatedly vowed to spend $1 trillion to rebuild America’s crumbling infrastructure. As president, however, this pledge has been replaced with calls for state and local governments to “maximize leverage” by taking on expensive private equity capital through public-private partnerships, or P3s. The federal contribution to these deals would be limited to a tax credit for equity investors.This article was originally published in Illinois Business Journal.