President Donald Trump may be kicking the can down the road on infrastructure investment according to a new report.
Axios’ Mike Allen and Jonathan Swan reported Thursday that Trump may not move on his proposed $US550 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 $US1 trillion infrastructure investment to fix the “crumbling” roads and bridges in the US during his campaign but pared that down to $US550 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 prioritising roughly $US137 billion in projects.
The follow through on these investment ideas, however, may take a while.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.