President Trump is bringing his shrewd business acumen to the White House. A silver lining to the coronavirus is the historically low interest rates around the world right now. That signals to any good businessman that it’s a great time to borrow money and put it to good use.
Trump tweeted, “With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country!”
Earlier this month, the Federal Reserve cut federal borrowing rates to 0% to 0.25% in an effort to mitigate the economic fallout due to coronavirus. That means the U.S. can borrow money for next to nothing, less than nothing if you factor in inflation, which makes this a very good time to finance a long overdue project like restoring and improving our nation’s infrastructure.
Democrats back an infrastructure bill that includes updates to public drinking water systems, hospital capacity, rural broadband internet, and online schooling.
Lawmakers and the President have long been in discussion about the need for a sweeping infrastructure package. Politicians on both sides of the aisle were working on this prior to the epidemic.
Though it is one of a few areas that has bipartisan support, talks have consistently broken down over how to fund such a bill. With trillions of dollars already committed, it remains to be seen how a $2 billion infrastructure bill would fare.
Watch the video as President Trump outlines his plans for improving the country’s infrastructure.
