Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Trump drops plan to create infrastructure council: White House

Published 08/17/2017, 09:47 PM
Updated 08/17/2017, 09:47 PM
© Reuters. Trump walks across the South Lawn after arriving via Marine One at the White House in Washington

WASHINGTON (Reuters) - U.S. President Donald Trump has abandoned plans to create an infrastructure advisory council, the White House said on Thursday, the day after two other advisory groups were dismantled over the furor caused by Trump's remarks on white supremacists.

"The President's Advisory Council on Infrastructure, which was still being formed, will not move forward," a White House official said.

The decision to drop the planned council was first reported by Bloomberg.

Trump signed an executive order last month establishing the council, with members to be drawn from real estate, construction, transportation and other sectors of the economy.

Trump has proposed spending $1 trillion to fix aging U.S. roads, bridges, airports and other infrastructure, a major part of his legislative agenda along with healthcare and tax reform.

On Wednesday, Trump disbanded two high-profile advisory groups after several chief executives quit in protest over his remarks blaming violence in Charlottesville, Virginia, last weekend on anti-racism activists as well as white nationalists.

Trump said he dissolved the American Manufacturing Council and the Strategic and Policy Forum "rather than putting pressure" on its members, although both groups were preparing to disband on their own when Trump made his announcement on Twitter.

The snubs from chief executives raised questions about Trump's ability to marshal the business community behind his policy goals.

A Wall Street analyst, Bucky Hellwig, senior vice president at BB&T (NYSE:BBT) Wealth Management in Birmingham, Alabama, said that because the infrastructure panel had yet to get off the ground, its demise was less important than the scrapping of the other two groups.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"But it contributes to the uncertainty that's creeping in" about Trump's agenda, Hellwig said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.