Tuesday, June 13, 2017

[NJFAC] Infrastructure proposals include selling off public assets to finance them.

Trump advisers call for privatizing some public assets to build new infrastructure  May 23, 2017 Wash. Post 

The Trump administration, determined to overhaul and modernize the nation's infrastructure, is drafting plans to privatize some public assets such as airports, bridges, highway rest stops and other facilities, according to top officials and advisers.

In his proposed budget released Tuesday, President Trump called for spending $200 billion over 10 years to "incentivize" private, state and local spending on infrastructure.

Trump advisers said that to entice state and local governments to sell some of their assets, the administration is considering paying them a bonus. The proceeds of the sales would then go to other infrastructure projects. Australia has pursued a similar policy, which it calls "asset recycling," prompting the 99-year lease of a state-owned electrical grid to pay for improvements to the Sydney Metro, among other projects....

This is a version of a failed Australian experiment. Asset recycling may look new and exciting. But it's the last gasp of a failed model, John Quiggan 

June Zaccone
National Jobs for All Coalition

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