Dear John, What’s one big issue all Americans agree on? The need to fix our nation’s badly deteriorated infrastructure! In 2021, progress on this vital issue may finally get some long-postponed attention, so learn more on Dec. 7 at 3 p.m. Eastern in a special webinar, “Financing America’s Water Solutions,” hosted by ASBC and the Coalition for a National Infrastructure Bank (NIB). | |
Bipartisan support for infrastructure upgrade, repair and replacement is a high priority for good reason: The American Society of Civil Engineers (ASCE) has warned that most U.S. bridges, highways, water systems and other infrastructure are not only obsolete and cost-ineffective, they’re an increasing danger to reliable production, supply chains, human health and safety. Our federal government must act now, or the financial investment gap to restore U.S. infrastructure will cripple America’s business function and societal wellbeing. The costs of that scenario are clear. The financial investment gap is especially dire in our water infrastructure. In addition to the costly danger to public health, the cost to business by the end of 2020 is expected to increase by $147 billion if no substantial action on water infrastructure is taken. The American Society of Civil Engineers projects a scenario in which the country’s GDP might contract by $416 billion due to a surplus in cost and reduction in workforce productivity. | |
What’s a solution? One legislative proposal, the National Infrastructure Bank (NIB), would address the long overdue investment in America’s infrastructure, mitigate the consequences of the current economic crisis and restore basic quality of essential services to vulnerable communities. The NIB would utilize standard banking strategies to finance up to $4 trillion in public infrastructure loans without increasing federal debt or creating new taxes, while creating 25 million well-paying jobs and appropriate training. | |
