The White House will introduce a $1 trillion infrastructure plan this month, Gary Cohn said Friday.
“January’s going to be a big month for us on infrastructure. You will be seeing our infrastructure plan,” said Cohn, the director of President Trump’s National Economic Council.
Speaking in a post-jobs report interview on Fox Business, the former Goldman Sachs president said that a feature of the plan is that the White House is advocating over $1 trillion in infrastructure investment.
The core principle of the plan is to streamline the permitting process for approving infrastructure projects. “We’re striving for an 18-month approval process in this country,” he said.
President Trump has said that he would like to pursue welfare reform along with major infrastructure legislation in 2018.
Previously, Trump advisers have suggested that the infrastructure program could include both government spending and government tax incentives for private investment in public projects.
Business groups and many Democrats favor greater government spending on roads, bridges, ports, and other infrastructure.
Conservative Republicans, however, could balk at new government spending. They opposed the 2009 Obama stimulus package, parts of which were infrastructure spending.
The White House has so far been silent on whether or how they will propose to pay for the new spending.