Bridge to somewhere

2 February 2017 By Gina Chon Follow @GinaChon

The former Goldman president is drafting a plan to build roads and smart grids, which may be more doable than tax reform. His strong presence and chutzpah make him a Trump favorite. Fixing bridges and airports would solidify his leadership in economic policy over other aides.

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The National Economic Council, led by former Goldman Sachs President Gary Cohn, is putting together an infrastructure plan to fulfill one of U.S. President Donald Trump's campaign promises to spend $1 trillion on bridges and roads. House Speaker Paul Ryan said on Jan. 27 there could be two bills pertaining to infrastructure. One could be a stand-alone proposal and another a plan that is included in a tax-reform measure. On Jan. 24, Trump signed an executive order to expedite and streamline environmental reviews and approvals for infrastructure projects.

Another major plank of Trump's economic plan is overhauling the tax code for both personal and corporate income. Senate Finance Chairman Orrin Hatch said Feb. 1 that his chamber would come up with its own plan, which will likely differ from the House proposal. The Treasury Department, to be led by Secretary-nominee Steve Mnuchin, would head the tax reform effort. His nomination was approved by Republicans on the Senate Finance Committee on Feb. 1, after Democrats boycotted the vote.

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