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
| Oct 18, 2012
EPA commercial building lead paint rule pushed back to 2015
The U.S. Environmental Protection Agency's inclusion of commercial buildings in a residential lead paint rule is being delayed until 2015.
| Oct 18, 2012
Chicago pushing green roofs to reduce heat island effect
The city of Chicago has mandated that all new buildings that require any public funds must be LEED certified, usually with a green roof.
| Oct 11, 2012
OSHA launches pilot program for alternative dispute resolution on whistleblower complaints
The Occupational Safety and Health Administration (OSHA) is launching an alternative dispute resolution (ADR) pilot program for complaints filed with OSHA's Whistleblower Protection Program.
| Oct 11, 2012
Bill promotes investment in commercial, multifamily retrofits
The Commercial Building Modernization Act recently introduced in the Senate would extend and streamline a current tax deduction to encourage commercial and multifamily residential building owners to perform comprehensive energy-efficient retrofits.
| Oct 11, 2012
Morristown, N.Y., settles code violation dispute with Amish
The town of Morristown, N.Y., has dropped charges of building code violations against local Amish communities to settle a First Amendment complaint.
| Oct 11, 2012
Mesquite, Nev., rebels against state-mandated energy code
The city council of Mesquite, Nev., voted against adopting a new energy efficiency code adopted by the state.
| Oct 11, 2012
Bloomingdale, N.J., restricts ground solar and wind energy installations
The borough of Bloomingdale, N.J., recently adopted regulations for solar-energy and wind energy systems.
| Oct 3, 2012
Bill introduced to extend home energy efficiency tax credit
A bill to extend the expired residential energy efficiency tax credit for installing qualified furnaces, boilers, central air conditioners, and heat pumps was recently filed in the U.S. House of Representatives.