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Trump, a real estate businessman before he was elected, did not
provide further details on the amount or where the money would
come from when he spoke to a White House meeting of 50 chief
executives and other business leaders.
U.S. Transportation Secretary Elaine Chao said at the forum that
the administration plans to release a legislative package in
May. Investors have become more skeptical that the plan would
win approval this year in Congress, which is controlled by
Republicans who are traditionally wary of big spending.
Trump said building a highway can require dozens of approvals
and take 10 to 20 years, a process he vowed to speed up. Trump
said he would not fund projects that cannot be started within 90
days.
The administration wants to improve the electrical grid and
water systems, rebuild airports, bridges, roads and potentially
hospitals for military veterans and broadband.
National Economic Council director Gary Cohn told executives
that privatizing air traffic control, which the administration
proposed in its budget outline in March, "is probably the single
most exciting thing we can do.".
Cohn, an investment banker with Goldman Sachs before he became
Trump's top economic adviser, said it could help speed flight
times and reduce fuel use.
Cohn said if cities "sell off" or privatize infrastructure
assets, the administration could provide financial support.
"We're not on the cutting edge of this," Cohn said. "We've got
to get a little more comfortable with public-private
partnerships."
Cohn touted an idea of electric car maker Tesla Inc <TSLA.O> CEO
Elon Musk to use tunnels to speed rail transit on the densely
populated east coast and also to cut traffic congestion in Los
Angeles. A Tesla spokesman declined comment.
(Reporting by David Shepardson; editing by Grant McCool)
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