The American Society of Civil Engineers released its first-ever report, “Failure to Act,” on how the U.S. economy and family budgets would cope if America fails to fund surface transportation improvements. It is evident that failure to invest in roads and bridges would have a negative impact on the economy, according to leaders of the National Stone, Sand and Gravel Association (NSSGA).
NSSGA Chairman of the Board Dave Thomey, executive vice president, Maryland Materials Inc., North East, Md., said, “We’ve been grossly under-investing in America’s infrastructure for years, and we have long known that investment in surface transportation projects is an investment in long-term national assets that create well-paying American jobs. This report clearly shows how important transportation is to maintaining a strong economy, which is information Congress needs to know since current authorization for federal surface transportation infrastructure programs will expire at the end of September. Congress must make long-term transportation planning and investing a priority.”
Key findings of the report are as follows:
- Failing infrastructure will drive up the cost of doing business by adding $430 billion to transportation costs in the next decade.
- Productivity across the business sector will drop.
- Americans will lose jobs in high-value sectors.
- Household incomes will fall.
The report also shows that an investment of $1.7 trillion between now and 2020 in the nation’s highways and transit systems would:
- Protect 1.1 million jobs.
- Save Americans 200 million hours of travel time each year.
- Deliver an average of $1,068 to each family.
- Protect $10,000 in GDP for every man, woman and child in the U.S.
See full report here.