Investing in Tomorrow: U.S. Infrastructure’s Challenges and Solutions
It’s refreshing to see that infrastructure investment is finally becoming a priority. At both the state and federal levels, initiatives like the Infrastructure Investment and Jobs Act (IJA) and the Inflation Reduction Act (IRA) are especially notable, with the IRA significantly prioritizing resilient infrastructure and injecting substantial capital into the sector. Additionally, 22 states have now adopted net-zero carbon emission goals, and 29 states have renewable portfolio standards for energy. This indicates a shift towards resilience, both financially through federal investments and policy-wise at the state level. However, there’s still a long way to go, as we continue to see homes being built in flood-prone areas. While it’s encouraging to see progress, much work remains to be done.
According yo the Bond Buyer, certainly I think we’re seeing a lot of that in the coastal areas where some homes along the coast and we have tough time getting insurance because the insurance companies won’t sell them insurance, but mean think of all the areas of unknown flood risk. So that’s known flood risk. We know that the coasts are susceptible to sea level rise. We know that certain ones are susceptible to hurricanes, but think of all of the areas we in Chicago, throughout Chicago or in older municipalities that are subject to urban flooding risks that isn’t even mapped or not even known. That opens up a whole nother spectrum of the unknown unknowns and what are we doing as far as ensuring those structures.
