There is more than $250 billion in transportation infrastructure spending on the state ballots in Tuesday’s election. State spending on infrastructure is at a 30-year low, despite desperate need for repairs. There are more than 58,000 structurally deficient bridges in the United States, not to mention roads, tunnels, and pipes that also need upgrades. If voters approve the new spending, the improvements could mean a big boost for jobs and GDP. For every $1 billion invested in transportation infrastructure, some 21,671 jobs are created. But that $250 billion is still not enough to address the infrastructure funding gap, which is expected to be $1.4 trillion over the next 10 years, according a report by Citi Research.
- Obama Caps Off His EV Legacy by Electrifying American Highways
- Dependence on limited U.S. infrastructure is way too high