May 12, 2016
The American Society of Civil Engineers released a report noting that the United States has an infrastructure funding gap of $1.44 trillion. In “Closing America’s Infrastructure Gap,” the ASCE said the gap could end up costing 2.5 million jobs.
The report also says the nation requires $3.32 trillion to keep its infrastructure intact– such as ports, highways, bridges, water and electric facilities – up to date. However, only $1.88 trillion has been funded.
Examples of failure include Flint, MI’s drinking water crisis, and the 2007 Interstate 35W bridge collapse in Minneapolis. “America is currently spending more failing to act on its infrastructure gap than it would to close it,” said Greg DiLoreto, past president of ASCE, and chair of the Committee for America’s Infrastructure.