New report from the American Society of Civil Engineers highlights dangers of underfunding infrastructure projects
Yesterday we shared some startling facts about the current state of America’s infrastructure, and discussed how a concerted program of infrastructure investment would make our roads and bridges safer and provide a much-needed boost for the U.S. economy.
The American Society for Civil Engineers (ASCE) recently released a new report that reiterates these points titled “Failure to Act: The Economic Impact of Current Investment Trends in Surface Transportation Infrastructure.” According to the report, the nation’s deteriorating surface transportation infrastructure will cost the American economy more than 870,000 jobs, and suppress the growth of the country’s Gross Domestic Product by $3.1 trillion by 2020. It also demonstrates that if investments in surface transportation infrastructure are not made soon, those costs are expected to grow exponentially.
As Kathy J. Caldwell, president of ASCE put it:
"Clearly, failing to invest in our roads, bridges and transit systems has a dramatic negative impact on America’s economy. The link between a nation’s infrastructure and its economic competitiveness has always been understood. But today, for the first time, we have data showing how much failing to invest in our surface transportation system can negatively impact job growth and family budgets. This report is a wake-up call for policymakers because it shows that investing in infrastructure contributes to creating jobs, while failing to do so hurts main street America."
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