Trump calls for US$2t infrastructure spending

[WASHINGTON] President Donald Trump on Tuesday called for a US$2 trillion infrastructure package, saying cheap credit now allows for a "bold" initiative just when the US economy is reeling from the coronavirus shutdown.

"With interest rates for the United States being at ZERO, this is the time to do our decades long-awaited Infrastructure Bill," Mr Trump tweeted.

He said "it should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country!"

Mr Trump has long argued for massive spending on roads, bridges and other basic but long-neglected infrastructure across the United States.

His latest proposal comes a week after he signed a US$2 trillion economic relief bill aimed at helping businesses large and small survive the nationwide economic shutdown forced by social distancing and transport freezes during the coronavirus pandemic.

Mr Trump's Republicans have been sceptical over any giant infrastructure bill, but there is strong support from Democrats. The idea is gaining traction as unemployment soars due to the coronavirus and economists warn that many businesses will have trouble getting back up to speed even after the pandemic fades.

AFP