Topline
The American Society of Civil Engineers gave American infrastructure systems a grade of C- on the report card it issues every four years, up from a D+ in 2017, ahead of a major push by the Biden administration to invest trillions of dollars into the country’s roads, bridges, airports, clean energy industry and more.
A traffic jam on on Rte 93 in Canton, MA on Dec. 7, 2020. (Photo by Suzanne Kreiter/The Boston Globe … [+]
Key Facts
The ASCE called the slight improvement “good news and an indication we’re headed in the right direction,” but cautioned that “a lot of work remains.”
Of the 17 categories of infrastructure the group tracks, 11 received grades in the D range, including aviation, hazardous waste, roads, and schools.
A C grade indicates infrastructure that is mediocre and requires attention, while a D grade indicates “poor, at risk” infrastructure with a strong risk of failure.
There were a few areas of improvement over the last four years, including in drinking water and ports, that the ASCE attributed to increased federal funding.
The group warned that the lingering effects of the coronavirus pandemic, especially when it comes to diminished infrastructure revenue, have the potential to undo the progress of the last four years.
Crucial Quote
“This [is] not a report card anyone would be proud to take home,” ASCE Executive Director Thomas Smith said in a statement. “We have not made significant enough investments to maintain infrastructure that in some cases was built more than 50 years ago…we risk significant economic losses, higher costs to consumers, businesses and manufacturers—and our quality of life—if we don’t act urgently.”
Big Number
$2.6 trillion. That’s how much spending ASCE says will be necessary over the next decade to bring U.S. infrastructure up to a B grade.
Key Background
The Biden administration is expected to turn to an infrastructure proposal worth at least $2 trillion after the passage of the $1.9 trillion economic relief bill this spring. The push was a major part of Biden’s campaign and has taken on new urgency this month after winter storms in Texas last month caused widespread blackouts and water shortages. The future infrastructure proposal is unlikely to win bipartisan support in Washington, however, given widespread opposition among Republicans to Biden’s plans to curb carbon emissions and the likely tax increases that would help finance the bill’s enormous price tag. Biden and Democrats could attempt to pass the bill using budget reconciliation, the same method they’re employing to advance his $1.9 trillion stimulus package over the objections of the Republican Party.
Further Reading
Biden’s Infrastructure Bill Could Be $2 Trillion Behemoth—Here’s What Goldman Sachs Is Expecting (Forbes)
Here’s What Biden’s $2 Trillion Climate-Focused Infrastructure Plan Means For Stocks And The Economy (Forbes)
House Passes Biden’s $1.9 Trillion Stimulus Bill (Forbes)
