President Trump’s budget plan for his much-anticipated infrastructure initiative would provide $200 billion in tax credits and grants over the next 10 years to encourage private companies to invest into public-private partnerships (P3s). The overall goal is to create $1 trillion in funds to help rebuild the United States’ crumbling infrastructure, with that funding coming largely from the private sector. However, this plan has come under heavy criticism from many in the engineering sector, who say it’s inadequate.
According to Congressman John K. Delaney of Maryland’s Sixth District, P3s cannot be the sole answer to rebuilding the country’s infrastructure. “As someone who spent two decades as an entrepreneur before being elected to Congress,” he said, “I believe that the private sector is an incredible source of innovation and expertise…and should also be considered as a viable source of capital and financing.”