Elaine Chao on Corporations
Secretary of Labor (Pres. Bush Cabinet)
The key to these futuristic leaps in transportation and infrastructure, said Chao, is to allow the private sector to invest and innovate. "The government doesn't have all the solutions, and we welcome responsible partners," she said. "Unfortunately, many of our states don't allow the private sector to invest in infrastructure. But they can be very helpful in terms of partnerships. The reality is that we cannot fund $1.5 trillion in direct federal funding; it will increase the deficit dramatically and will squeeze out the private sector."
Chao dismissed concerns that private partnerships could lead to a rise in cronyism. "Some people in Congress have a distrustful view of the private sector," she said. "The private sector should help to educate these lawmakers on public-private partnerships."
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