The quality of infrastructure in the U.S. ranks just 19th in the world, trailing countries such as Oman, Portugal, and Spain, according to the World Economic Forum’s Global Competitiveness Report. Financially strapped state and local governments are responsible for the poor showing.
The American Society for Civil Engineers (ASCE)gave the U.S. a D+ in its annual Infrastructure Report Card, saying the country needs to invest $3.6 trillion by 2020 to upgrade our infrastructure. Infrastructure spending continues to lag, even while the economy adds jobs, GDP continues to grow, and home sales rebound following the recession.
States, counties, and cities, which are primarily responsible for funding schools, roads, waste disposal facilities, and other community assets, are focused on paying down debt and don’t have the money for a needed infrastructure spending spree. In the last few years, the bond markets have issued few notes for new capital projects despite historically low interest rates, according to the Securities Industry and Financial Markets Association. Much of the current municipal bond issuance appears to be refinancing.
In addition, with the federal government’s Highway Trust Fund expected to run out of money in August unless Congress replenishes it, many state transportation projects are in limbo.
(http://fivethirtyeight.com/features/why-we-still-cant-afford-to-fix-americas-broken-infrastructure/)
Related Stories
Energy Efficiency | Aug 28, 2015
North American Passive House Network e-book explains Passivhaus, net-zero techniques
Free guide includes spotlight on individual projects
Windows and Doors | Aug 28, 2015
Newly formed group challenges Florida building code
Window, door companies oppose provisions that raise costs
Codes and Standards | Aug 28, 2015
New Orleans becoming a model for climate resilience only 10 years after Katrina
The city has moved ahead with resilience strategies that may become a model for other communities
Codes and Standards | Aug 21, 2015
Illinois governor vetoes bill that would restrict condo owners’ rights
Bill would have made it harder to sue for building flaws
Codes and Standards | Aug 21, 2015
Post-Katrina roofing codes creating more resilient buildings on Gulf Coast
Ten years after storm, notable progress on stronger roofs, IBHS says
Smart Buildings | Aug 21, 2015
Federal Alliance for Safe Homes offers plan to strengthen codes for disaster resilience
Some states losing ground on resilience, group says
Codes and Standards | Aug 21, 2015
After disease outbreak, ASHRAE legionella standard adopted in New York
City Council acts after 12 die of legionellosis
Codes and Standards | Aug 13, 2015
Research indicates major earthquake looming for Pacific Northwest
Most structures built before seismic codes instituted; extreme damage predicted
Codes and Standards | Aug 13, 2015
New York City may allow affordable housing developers to ‘double dip’ in subsidies
New York City may allow affordable housing developers to ‘double dip’ in subsidies
Codes and Standards | Aug 13, 2015
L.A. considers controversial traffic calming measures
Goal is to encourage alternative transportation