Political news site The Hill published an op-ed by Dennis Slater, president of the Association of Equipment Manufacturers, Audrey Copeland, Ph.D., P.E., president and CEO of the National Asphalt Pavement Association and Michael W. Johnson, president and CEO of the National Stone, Sand & Gravel Association.
“A recent Business Roundtable study found that $737 billion in public investment over 10 years would set us on the path toward reviving our national infrastructure. While those numbers seem daunting, the report also showed that every additional dollar invested in infrastructure delivers roughly $3.70 in additional economic growth over a period of 20 years,” the authors wrote.
“Clearly, increased investment is sound, fiscally responsible economic policy that ensures the long-term health and well-being of the infrastructure that is essential to the free movement of people and goods. Currently, the cost to commuters is a yearly average of $960, along with 42 hours of wasted travel time and 3.1 billion gallons of wasted fuel. By investing in improving our infrastructure, hard-working American families will see their disposable incomes increase by an average of $1,400 every year.”
The op-ed comes on the heels of President Trump’s proposed budget, which features $200 billion for infrastructure spending, coupled with Department of Transportation budget cuts of $5.1 billion and Interior Department budget cuts of $2 billion.