Trump Discusses Infrastructure With Elon Musk, Other Business Leaders
Elon Musk Shutterstock
Public-private partnerships are seen as key part of the president’s plans for $1 trillion in infrastructure investment.
President Trump discussed infrastructure during a lunch Wednesday with business leaders—including Tesla’s Elon Musk.
Trump has pledged to push for $1 trillion of infrastructure investment, involving both government and private capital. Steven Roth, CEO of Vornado Realty Trust, and Richard LeFrak, CEO of the LeFrak Organization, which has interests in real estate, the energy sector and other areas, were among those at the lunch, according to White House press secretary Sean Spicer.
The president has turned to LeFrak and Roth to lead an infrastructure council he wants to form.
Transportation Secretary Elaine Chao, Energy Secretary Rick Perry and Environmental Protection Agency Administrator Scott Pruitt also attended the lunch, Spicer said.
Other attendees, he said, were: Musk, who is chief executive of aerospace startup SpaceX and the carmaker Tesla; Joshua Harris, co-founder of the investment management company Apollo Global Management; William Ford, CEO of General Atlantic, a private equity and venture capital firm; Lynn Scarlett, global managing director for public policy at The Nature Conservancy, a nonprofit; and Tyler Duvall, a partner with McKinsey & Company, a consultancy.
Specifics about Trump’s infrastructure plans are still sparse, but tax credits to spur private investment are seen as one possible element. Some of the questions about the package have to do with where federal dollars would come from and how far public-private partnerships could go toward upgrading public infrastructure, particularly in rural areas.
The president is also seeking to streamline permitting processes and to scale back regulations in an effort to speed up projects.
Spicer emphasized during a White House press briefing on Wednesday that Trump views “strong public-private partnerships” as a crucial element in “revitalizing our country’s ruined roads, crumbling bridges and outdated airports.”
Bill Lucia is a Senior Reporter for Government Executive’s Route Fifty and is based in Washington, D.C.
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