President Donald Trump vowed to cut red tape to speed up approval of infrastructure projects and and said his overhaul could top $1 trillion on roads, tunnels and bridges. Fred Katayama reports.
President Donald Trump says his infrastructure overhaul may top $1 trillion. He also vowed to speed up approval of projects. (SOUNDBITE) DONALD TRUMP, PRESIDENT OF THE UNITED STATES, (ENGLISH) SAYING: "We will try to get this process from a minimum of ten years to down to one year. I say, can we make it four months? Can we do it in four months? And there is a certain logic to that, we will be satisfied with a year, but it won't be anymore than a year." Trump participated in a town hall with top business leaders at the White House where he also said he will not fund projects that cannot be started within 90 days. His administration wants to improve the electrical grid and water systems, rebuild airports, bridges, roads and, potentially, hospitals for military veterans and broadband infrastructure. Michael Hans of Clarfield Financial Advisors: (SOUNDBITE) MICHAEL HANS, CIO, CLARFIELD FINANCIAL ADVISORS, (ENGLISH) SAYING: "There is a tremendous amount of hope priced into markets, and, as we try move forward into the balance of this year, it will be interesting to see how things unfold becasue you do have a limited timeline before you get into the recess later on in the year." During the town hall, Trump also said he's working on changes to Dodd-Frank banking regulations to make it easier for banks to loan money.