The $94 Billion Annual Funding Gap in Transportation
The 40-page report, titled "Failure to Act: The Economic Impact of Current Investment Trends in Surface Transportation Infrastructure," calls for a $846 billion additional funding over the next nine years to fix America's deteriorating highway and transit systems, which ranked No. 19 and 18, respectively.
Without aggressive financial intervention, "surface transportation infrastructure will cost the American economy more than 870,000 jobs and suppress the growth of the country's gross domestic product by $3.1 trillion by 2020," reports Pam Kasey.
Kasey adds, "The report finds that, in 2010, deficiencies in America's roads, bridges, and transit systems cost American households and businesses more than $129 billion. That includes vehicle operating costs, delays in travel time, and safety and environmental costs."