Larry Kudlow, meet Larry Kidwell and Robbi Jones.
President Donald Trump’s new chief economic adviser, CNBC analyst Kudlow, could do the country a favor by considering an innovative, outside-the-beltway plan by two financial firms to fix infrastructure and create a high-wage, blue-collar jobs revolution.
Neither Republicans nor Democrats have proposed financially viable ideas to upgrade the country’s neglected roads, bridges, schools, pipelines and power grid.
Democrats would raise taxes; Republicans would hope for the best. Neither plan offers promise for improving our dangerous, nationwide infrastructure graded D+ by the American Society of Civil Engineers.
Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus propose a $1 trillion infrastructure plan that would reverse course and raise the corporate income tax from 21 percent to 25 percent. It would raise the top individual tax rate from 37 percent to almost 40 percent. It would expand the alternative minimum tax, undo reductions in capital gains taxes, and reduce the estate tax exemption by nearly half.
In return, Schumer and company promise $140 billion for roads; $115 billion for water and sewer upgrades; $80 billion for the power grid; $50 billion to improve schools; $40 billion for broadband enhancement; and lots of jobs. Politically, it is not feasible.
“Repeal all these bonuses, pay raises, new jobs, and new investments? Talk about a nonstarter,” said Senate Majority Leader Mitch McConnell, R-KY.
The Trump administration last week pitched a $1.5 trillion infrastructure proposal for federal government to commit $200 billion. The plan depends on states, counties and cities funding at least 80 percent of improvements. Problem is, no one knows where the money will come from.
A new proposal by Nashville-based Kidwell & Company and Houston-based Kipling Jones & Co. provides a stark contrast.
Kidwell & Company President Larry Kidwell and Kipling Jones & Co. President Robbi Jones lack the bullhorn of congressional and White House officials, but recently discussed their plan with national leaders to amplify their