ASCE releases Failure To Act Report: Increased Infrastructure Investments Needed
The American Society of Civil Engineers (ASCE) released the latest Failure To Act Report, which quantifies how the failure to invest in the nation’s infrastructure can impact the economy. In the report, ASCE found that an increased investments in the nation’s deteriorating infrastructure would help the U.S. snap out of the economic slump.
ASCE finds that with an increased investment of $281 billion a year — $5.48 more per household a day — the U.S. can eliminate this drag on the economy, protecting by 2039:
- $10 trillion in GDP, nearly half of the annual U.S. GDP in 2019
- More than $23 trillion in total output (primarily business sales)
- More than 3 million jobs in 2039, two times the number of Walmart employees in the U.S.
- More than $3,300 in a family’s annual disposable income each year from 2020 to 2039, which is over half of the average American’s household’s monthly expenditure of $5,102.
Read the full report here: https://www.asce.org/failuretoact/