Trump Shuns P3s For Infrastructure Improvements, Says They're 'More Trouble Than They're Worth'
Amid infrastructure talks, it has become clear that U.S. President Donald Trump is not partial to public-private partnerships to finance the country's much needed infrastructure improvements.
During a meeting with the House Ways and Means Committee, Trump expressed his concern about such partnerships, calling them “more trouble than they’re worth,” the Wall Street Journal reports.
A P3 is a partnership in which private investors provide money to help fund infrastructure projects such as the construction of roads and bridges, in exchange for a portion of future revenue.
P3s have been an integral part of the administration’s considerations regarding how it might generate funding for the $1 trillion infrastructure investment promised by Trump earlier this year.
The president had initially proposed spending $200B over 10 years on infrastructure programs in an effort to encourage private investors to spend the $1 trillion needed to fund much of America’s crumbling foundation. The plan was meant to resolve these issues without adding to the national deficit.
A move away from this approach has some speculating that it could mean the use of an approach that relies on public funding instead.
