Information about this report can be found here. Our infrastructure has problems.
ASCE Executive Director Tom Smith
>America's infrastructure bill is overdue, and we have been ignoring it for years. There's no better way to jumpstart the economy, while also lessening the financial burden on businesses and families, than by making a down payment on our infrastructure now - transit systems, bridges, water treatment plants, and the grid - to ensure these systems are sustainable, resilient and safe for communities across the nation.
I was listening to a morning show today and they talked about the Biden Infrastructure plan. They shared some numbers
- The proposed Biden bill originally was $2.25T, but this is over 8 years so it's about $300B a year in new spending.
- The current bill is priced at $1.7T, about $212.5B a year
- This price is about 1% of GDP. IOW, this is NOT a radical bill. Anyone pretending like it is, is being disingenuous.
- Here's the part that I learned today. This, according to the American Society of Civil Engineers, isn't even enough to maintain existing infrastructure.
- The ASCE is saying we need $5.6T over the next decade to maintain existing infrastructure.
- "Between now and 2039, the ASCE report estimates that nearly $13T is needed across 11 infrastructure areas: highways, bridges, rail, transit, drinking water, stormwater, wastewater, electricity, airports, seaports and inland waterways. With planned investments in infrastructure currently totaling $7.3T, that leaves a $5.6T investment gap by 2039."
- Republicans are proposing spending $568 billion in new money over 5 years. $113B in new money each year. This is far less than the ASCE is telling us that we need to just maintain existing infrastructure.
- We spent $2T on our war in Afghanistan.
- Republicans are rejecting any corporate or international tax increases and any attempts to undo the 2017 tax cuts passed under President Trump.
- Republicans call for funding
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