Biden’s Largesse Is Just the Start in Fixing US Infrastructure, Civil Engineers Say
A report by the American Society of Civil Engineers (ASCE) indicates that the bipartisan Infrastructure Investment and Jobs Act (IIJA), championed by US President Joe Biden, is projected to save the average American household approximately $700 annually over the next twenty years. However, this financial benefit is contingent upon Congress extending the act beyond its expiration in 2026.
According to GCR, it says the IIJA’s $1.2 trillion funding windfall for surface transport, ports, water, and energy was needed to stop the big gap in infrastructure investment from growing bigger, but a “snapback” to pre-IIJA spending levels will make the gap grow again, hurting business and households.
“Our needs have continued to grow for decades, and only just recently, in the past few years with the IIJA and IRA [Inflation Reduction Act], have we seen a renewed investment in infrastructure,” Darren Olson, chair of ASCE’s Committee on America’s Infrastructure, told the association’s Civil Engineering Source.
“But it’s a down payment. It’s the start of the process to slow the growth of the gap, but because we have not done this for so long, it is impossible to significantly impact the gap without a long-term sustained investment.”
The report sees two possible scenarios over the next 20 years.
