You’re probably thinking: What? I didn’t hear about any tax increase in Trump’s State of the Union speech.
That’s right. You didn’t. Because it’s hidden in the fine print.
What you probably heard is that the Trump administration wants to spend $1.5 trillion on America’s infrastructure.
Here’s how Trump plans to make you pay for it.
In the State of the Union speech this week, President Trump announced:
Tonight, I am calling on the Congress to produce a bill that generates at least $1.5 trillion for the new infrastructure investment we need.
On the surface this sounds like he wants Congress to authorize $1.5 in infrastructure investment. Notice the curious turn of phrase though “a bill that generates $1.5 trillion.”
He doesn’t explain this term in detail, but he does say:
Every Federal dollar should be leveraged by partnering with State and local governments and, where appropriate, tapping into private sector investment — to permanently fix the infrastructure deficit.
Let’s look at what this statement means—and specifically, what it means to average Americans.