The senator said he opposed a proposal floated by the Trump administration to contribute $200 billion to a vast infrastructure package that would aim to leverage an additional $800 billion in private financing.
“First, we don’t know. They throw out more things. But that to me is not close to a trillion dollars because of the $800 billion that they would spend with these tax breaks and gimmicks to help the financial community,” Schumer said. “One, it would end up being about 18 percent of that going to actually rebuilding roads. The rest would go to repay Wall Street and the other people who have financed it. Two, it wouldn’t build very much because anyone who would use that public-private partnership can get private financing now. … And three, there are large parts of America where nothing would get built because they can’t afford a revenue stream.... So I think it is a terrible plan and they are going to have to do a lot better.”