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Stimulus Improved Infrastructure, But U.S. Needs $3.6 Trillion In Investments By 2020
Stimulus Improved Infrastructure, But U.S. Needs $3.6 Trillion In Investments By 2020
By Travis Waldron
The American Recovery and Reinvestment Act, the economic stimulus package signed into law by President Obama in 2009, improved America’s infrastructure, but the United States still needs a massive investment over the next seven years to keep its infrastructure up to date, according to a report card from the American Society of Civil Engineers.
The report gave American infrastructure a D+ grade, tying the 2001 grade as the highest the United States has ever received and an improvement from the D it received in 2009. But the U.S. also need substantial investments between now and 2020 to keep its infrastructure in good repair (a B grade), according to the report. The U.S., the report estimates, will spend roughly $1.6 trillion between now and 2020 on infrastructure investment, far short of the $3.6 trillion it needs to reach a B grade:
The stimulus bill helped turn around the American economy during the Great Recession in part because it included substantial investments into infrastructure projects. Obama proposed further infrastructure investments as part of the American Jobs Act in 2011, but that plan was repeatedly blocked by Republicans in both the House and the Senate. Other funding for infrastructure improvements has been put off or reduced because of budget cuts and deficit reduction efforts.
- more -
http://thinkprogress.org/economy/2013/03/20/1747791/stimulus-infrastructure/
By Travis Waldron
The American Recovery and Reinvestment Act, the economic stimulus package signed into law by President Obama in 2009, improved America’s infrastructure, but the United States still needs a massive investment over the next seven years to keep its infrastructure up to date, according to a report card from the American Society of Civil Engineers.
The report gave American infrastructure a D+ grade, tying the 2001 grade as the highest the United States has ever received and an improvement from the D it received in 2009. But the U.S. also need substantial investments between now and 2020 to keep its infrastructure in good repair (a B grade), according to the report. The U.S., the report estimates, will spend roughly $1.6 trillion between now and 2020 on infrastructure investment, far short of the $3.6 trillion it needs to reach a B grade:
The stimulus bill helped turn around the American economy during the Great Recession in part because it included substantial investments into infrastructure projects. Obama proposed further infrastructure investments as part of the American Jobs Act in 2011, but that plan was repeatedly blocked by Republicans in both the House and the Senate. Other funding for infrastructure improvements has been put off or reduced because of budget cuts and deficit reduction efforts.
- more -
http://thinkprogress.org/economy/2013/03/20/1747791/stimulus-infrastructure/
Wow, we moved from a D to a D+. Maybe Congress will cooperate and help us get to C. Disgusting!
Obama Expands On Infrastructure Proposals
President Obama last week provided more detailson his infrastructure plans that were first mentioned during the State of the Union address. The administration released a fact sheet that offers some specifics, however many of the details will still have to wait until the President releases his budget proposal in a few weeks.
The announcement this week focused on three items: A “fix-it-first” proposal to repair existing infrastructure before building new projects, a “Rebuild America Partnership” to bring private money off the sidelines through a new bond program, and a continued “modernization effort” to speed up permitting and construction.
The President’s plan would immediately invest $50 billion in our nation’s transportation infrastructure, with $40 billion targeted to the most urgent upgrades and focused on fixing our highways, bridges, transit systems, and airports most in need of repair. However, the President’s proposal does not outline a funding source for this infusion. In the past, Obama has said his infrastructure proposals could be paid for by using savings from winding down wars overseas, but that has not been specifically mentioned this time around.
We applaud the President for focusing on infrastructure investments and looks forward to working with the administration and Congress on how we can make these much needed investments. We are also hopeful that a long-term funding plan for surface transportation can be implemented that averts insolvency of the Highway Trust Fund.
http://blogs.asce.org/govrel/2013/02/25/obama-expands-on-infrastructure-proposals/
President Obama last week provided more detailson his infrastructure plans that were first mentioned during the State of the Union address. The administration released a fact sheet that offers some specifics, however many of the details will still have to wait until the President releases his budget proposal in a few weeks.
The announcement this week focused on three items: A “fix-it-first” proposal to repair existing infrastructure before building new projects, a “Rebuild America Partnership” to bring private money off the sidelines through a new bond program, and a continued “modernization effort” to speed up permitting and construction.
The President’s plan would immediately invest $50 billion in our nation’s transportation infrastructure, with $40 billion targeted to the most urgent upgrades and focused on fixing our highways, bridges, transit systems, and airports most in need of repair. However, the President’s proposal does not outline a funding source for this infusion. In the past, Obama has said his infrastructure proposals could be paid for by using savings from winding down wars overseas, but that has not been specifically mentioned this time around.
We applaud the President for focusing on infrastructure investments and looks forward to working with the administration and Congress on how we can make these much needed investments. We are also hopeful that a long-term funding plan for surface transportation can be implemented that averts insolvency of the Highway Trust Fund.
http://blogs.asce.org/govrel/2013/02/25/obama-expands-on-infrastructure-proposals/