First Things First

Labor Day Traffic Reminds Us Why We Need to Rebuild our Infrastructure

This holiday weekend, many will take one final summer trip and fight another battle with summer traffic.

The roads were packed for Memorial Day and Independence Day, so don’t expect Labor Day to be any different.

"During the Memorial Day holiday weekend, we witnessed the second-highest travel volume for that holiday since AAA began tracking holiday travel volume dating back to 2000," said John B. Townsend, II, manager of public and government affairs for AAA Mid-Atlantic. "During the Fourth of July holiday weekend, America experienced the highest travel volume recorded for the Fourth of July period. Those opting to travel during the Labor Day holiday weekend can expect plenty of company in the skies and plenty of competition along every highway mile marker."

As you go down the highway – slowly in some cases – you’ll be reminded of the poor state of our infrastructure. It earned a “D+” grade from the American Society of Civil Engineers.

When lawmakers return to Washington, D.C., after their August recess one item on their to-do list should be rebuilding our infrastructure.

The costs of inaction are becoming an expensive roadblock

• Americans lose $1,000 a year in wasted fuel costs due to congestion
• Families lose an additional $600 a year due to car damage caused by poor infrastructure
• The average American loses 54 hours stuck in traffic each year

“Modernizing America’s infrastructure would drive economic growth, provide jobs, improve our quality of life and enhance global competitiveness,” writes Ed Mortimer, vice president of Transportation and Infrastructure at the U.S. Chamber. “The business and labor communities are committed to seeing this through. Now we need leaders in Washington to do the same.”

Learn more at LetsRebuildAmerica.com.

Diving In

Our leaders must restore certainty for business so our economy can stay on the right track. That’s what U.S. Chamber CEO Tom Donohue urges in an op-ed for The Washington Post:

Amid all the talk of a possible recession, it’s important for everyone to remember this: Economic expansions do not die of natural causes. They often die because of missteps and policy mistakes. And the biggest mistake our leaders could make right now — putting our economy at greater risk of a downturn — is to stoke further uncertainty.

That’s why President Trump — and Chinese President Xi Jinping — should withdraw the additional tariffs scheduled to go into effect Sept. 1 and Dec. 15 and return to the negotiating table in good faith.

When leaders make choices that foster certainty, businesses have the confidence to invest, hire, grow and, in turn, drive the economy. Case in point: The one-two punch of tax reform and regulatory relief early in the Trump administration sent our economy soaring, closing in on 3 percent growth and pushing the unemployment rate to a generational low.

We’re in the third straight year of salary and wage growth, and employee compensation rose 3.4 percent in the first half of 2019. Inflation remains near record lows. Consumer spending is strong, with retail sales beating expectations in June.

But with an escalating trade war and signs of a softening global economy beset by numerous challenges from Iran to Hong Kong to Brexit, business confidence is faltering.

Read the rest here.

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Caught My Eye

Back-to-school/college is a busy time for retailers. Over $80 billion in spending is forecasted by the National Retail Federation.

Found a chart you want to share? Please email me.

The Big Picture

Hurricane Dorian is bearing down on Florida and the Southeast U.S. after striking Puerto Rico and the U.S. Virgin Islands. For businesses in Dorian’s path here are some preparation tips from the U.S. Chamber Foundation’s Corporate Citizenship Center. Stay safe.

Looking Ahead

September 12, 2019: The BusinessH2O: Water Innovation Summit will showcase innovative water technologies and best practices that support economic growth in the driest places in the world.

September 27, 2019: Civics education, civic engagement, and civil discourse in America will be the focus of the U.S. Chamber of Commerce Foundation’s Civics Forward summit.

October 24, 2019: The U.S. Chamber of Commerce Foundation's national workforce conference, Talent Forward 2019, will convene education and workforce experts to discuss the future of talent and the future of work.

To Play Us Out

This Don Henley classic is perfect for the unofficial end of summer.

Have a song recommendation? Please email me.

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