Investing in Infrastructure Makes Sense
History has shown investing in infrastructure creates jobs and improves the overall economy by raising GDP. The United States has consistently underfunded infrastructure and the current congress has failed to pass long-term infrastructure funding solutions. In the meantime, the nation’s infrastructure continues to deteriorate.
In recent weeks, there has been more discussion about infrastructure spending as well as ways to fund it as a separate “bank” that Congress cannot transfer to other programs. The US infrastructure is aging, and current funding levels are barely enough to maintain the existing system, let alone improve the conditions. Now is the time to act, before more failures occur – failures which have high social and economic costs.
If Congress does act to create long term funding for infrastructure, it is imperative new infrastructure projects are built to last. One of the biggest issues with existing infrastructure is corrosion, as budget shortfalls have made it impossible to keep up on maintenance of structures. As the country grows, more funding is needed to expand, enhance, and update our infrastructure. Thus, even with higher, consistent funding, there will always be more demand on funds for new infrastructure, rather than maintaining existing elements. Therefore, utilizing materials with low life-cycle costs and long term durability, such as hot-dip galvanized steel, makes sense.