Anthony Foxx

Trump advisers' tax credit plan for infrastructure has risks

President Donald Trump has promised to revitalize America's aging roads, bridges, railways and airports, but a plan put forward by his economic advisers relies on a transportation financing scheme that hasn't been tried before and comes with significant risks.

The plan was set out just before the election by billionaire leveraged buy-out specialist Wilbur Ross, Trump's pick for commerce secretary, and conservative economics professor Peter Navarro, whom Trump has tapped to head his National Trade Council. They recommended the government allocate $137 billion in tax credits for private investors who underwrite infrastructure projects.

Ross and Navarro estimate that over 10...

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