collected by :Molly Tony
LeFrak responded that in many cases private companies can do the job at a faster and cheaper rate versus government entities.
Defending The Infrastructure PlanTrump’s infrastructure plan calls for spending upward of $1 trillion and some of the components of the plan could consist of a public-private partnership.
On Friday he was a guest on CNBC’s “Squawk Box” segment to talk about the need for infrastructure work to be done and why he admires Tesla Inc (NASDAQ: TSLA)’s CEO Elon Musk.
Related Link:_______Image Credit: By Brian Solis – originally posted to Flickr as Tesla Grand Opening in Menlo Park – Tesla Chairman, Elon Musk, CC BY 2.0, via Wikimedia CommonsPosted-In: CNBCCNBC News Politics Management Tech Media General Best of Benzinga© 2017 Benzinga.com.
Also, private companies may shoulder the responsibility of cost over-runs and maintenance after the project is completed, which could save the government money over the long term.
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Billionaire innovator Elon Musk is a ‘force of nature,’ Trump infrastructure advisor says
UAE could become home to the world’s first Hyperloop system Friday, 11 Nov 2016 | 2:13 PM ET | 01:05″He says that he can build a mile of tunnel,” LeFrak said.
“The real problem with doing this is gaining rights of way, gaining eminent domain, or having the rights of way to get the real estate to build the tunnel,” LeFrak said.
On Thursday, another one of Musk’s visions, a super-fast hyperloop transport system, appeared to take a step closer to reality with the release of test track photos.
Earlier this month, Musk tweeted a symbol of his tunnel idea, dubbed “The Boring Company.”
“But at least here’s a man … doing something a little unusual, thinking out of the box, and willing to invest his own capital.”
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“The time has come for a new program of national rebuilding,” Trump said.
Last month, Trump touted the plan in an address to Congress.
Musk, who is making his third trip to meet with Trump since Trump took office Jan. 20, in December said he planned to start digging tunnels after he complained of traffic in Los Angeles.
Tesla and SpaceX CEO Elon Musk will take part in a lunch meeting with U.S. President Donald Trump and business leaders Wednesday on the administration’s plans to boost infrastructure spending, according to a memo sent to White House pool reporters.
Via pool: Attendees for POTUS Strategic Initiatives Infrastructure lunch pic.twitter.com/DJXCkQLDWU — Zeke Miller (@ZekeJMiller) March 8, 2017During his presidential campaign, Trump said he would push for a $1 trillion infrastructure program to rebuild roads, bridges, airports and other public works projects.