Trump is reportedly pushing off one of his biggest economic promises until next year
Mark Lyons/Getty Images
Axios' Mike Allen and Jonathan Swan reported Thursday that Trump may not move on his proposed $550 billion infrastructure promise until 2018 according to Republican sources.
According to Axios, the overwhelming number of reforms that the Trump team is pushing - from the Obamacare repeal to tax reform to the immigration crackdown - are taking up so much of the administration's and the GOP's time that infrastructure may get pushed off.
Additionally, wrote Allen and Swan, by pushing the economic investments until 2018, it puts Democrats in a hard place of fighting a popular proposal right before the mid-term elections.
The timeline also makes sense given Treasury secretary Steven Mnuchin's comments to CNBC on Thursday that the Trump team doesn't expect serious increases in economic growth until "towards the end of next year."
Trump originally promised a $1 trillion infrastructure investment to fix the "crumbling" roads and bridges in the US during his campaign but pared that down to $550 billion during the transition.
A document was reportedly circulating from the Trump administration to governors asking for their proposals on what plans were most pressing, and it appeared the Trump team was prioritizing roughly $137 billion in projects.
The follow through on these investment ideas, however, may take awhile.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’