The Wall Street Journal (subscription required) looks at the surge in construction materials and infrastructure construction stocks precipitated by expectations of a Trump revitalization program, but cautions that the “math doesn’t add up” and raises a red flag on P3 projects, reporting that, “Such projects have fared poorly in the past. A 2015 Congressional Budget Office report counted 14 completed highway projects that relied on some form of private financing. Of the eight that have been open for more than five years, half, including projects in Texas, California, and South Carolina, have either declared bankruptcy or experienced a public buyout of the private partners. All relied on toll revenue. They built it, but not enough came.”
