Climate change, or example, poses an unprecedented and unique test or how we prepare and react to naturaldisasters and the impact they will continue to have on some o our country’s most populous and commercially vital areas.Opportunities or cooperation exist as well; both the private and public sector have enormous interests atstake in keeping America’s roads and bridges reliable as possible. With interest rates relatively low one option or bringing private investment would be an inrastructure bank that could provide a model or private business who are looking to invest their considerable amounts o latentcapital with long-term, guaranteed returns.
A deteriorating inrastructure is not an abstract problem or the American people. Spotty cell phone coverage,crumbling roads, unsae bridges, and power interruptions are all symptoms o an inrastructure that deservesa reocus o our resources.
Why Is Updating Our Inrastructure So Important?
Our nation’s inrastructure consists o approximately 4 million miles o roads, 600,000 bridges, 79,000dams, 300 ports, 19,000 airports, and many more interconnected systems.
For every $1.25 billion invested in transportation inrastructure, it is claimed that 35,000 jobs arecreated and supported.
By 2020, 90% o urban Interstate Highways will be at orexceeding capacity.
One-third o trac atalities can be directly attributed tosubstandard road conditions. Tat is about 15,000 peopleevery year over the last decade.
Aging inrastructure costs business and amilies up to $130billion ever year.
By 2020, America’s transportation inrastructure decienciesare expected to cost the national economy almost $900million in GDP.
Rolling blackouts and ineciencies in the electrical grid cost the U.S. economy approximately $80billion per year.
Te U.S. spends approximately two percent o its GDP on inrastructure investment, Europe spendsve percent, and China spends nine percent.
Freight and intercity rail system will need $200 billion by 2035 to accommodate anticipated growth.
Demand or reight rail is expected to increase by 84% by 2035.
Approximately 12% o the nation’s bridges are structurally decient.