Hopefully, lawmakers will start to recognize the large backlog of infastructure needs we have in this country soon. When they do, it will be a good time to own MTW.
The Fiscal Times By Eric Pianin
6 hours ago
Last December Congress finally pushed through a $305 billion, five-year highway and transit bill after years of delay and neglect of the nation’s roads and infrastructure.
However, despite the celebration by lawmakers and state and local officials who have long sought the increased spending, the legislation was little more than a drop in the bucket when compared to the nation’s overall infrastructure needs.
Related: Why Infrastructure Investment Is a No-Brainer Payoff
A new report this week by the Center on Budget and Policy Priorities warns that state and local spending on infrastructure – including schools and wastewater treatment plants as well as highways and bridges – is at a 30-year low. Total capital spending as a share of state GDP fell in all but five states and the District of Columbia between 2002 and 2013, with the largest drops in Nevada, Florida and Michigan.
According to the 2013 report card by the American Society of Civil Engineers, the U.S. has serious infrastructure needs of more than $3.4 trillion through 2020, including $1.7 trillion for roads, bridges and transit; $736 billion for electricity and power grids; $391 billion for schools; $134 billion for airports; and $131 billion for waterways and related projects