The American Society of Civil Engineers (ASCE) today released a report, "Failure to Act the Economic Impact of Current Investment Trends in Surface Transportation Infrastructure," which outlines the consequences and costs of failing to increase current transportation investment levels over the next 10 and 30 years.
The ASCE report showed deficiencies in America's transportation infrastructure strained American businesses and households in 2010 with more than $129 billion in added costs including $32 billion in travel delays, $97 billion in vehicle operating costs, $1.2 billion in safety costs and $590 million in environmental costs. Even more staggering are the costs that will accrue with failure to invest in vital transportation systems. By 2020, American businesses would pay an extra $430 billion in transportation costs, household incomes would fall by $7,000 and U.S. exports would fall by $28 billion.
In response to the report, former Governor Ed Rendell, co-chair of Building America's Future issued the following statement:
"This report should serve as a wakeup call to policy makers and politicians alike. The consequences of inaction are quite clear: failure to make smart investments in our infrastructure will erode our nation's economic competitiveness and leave an indelible mark on the quality of life for every American. The costs to every American family are estimated to be $1,060 each year, which is the equivalent of a year's worth of textbooks for a college student or the cost of five months of groceries for a family of four."
Rendell continued, "America's economic competitiveness depends on the quality of our infrastructure. If we don't make the necessary investments now, our nation will deteriorate and the quality of life that we have come to view as our American birthright will significantly suffer. How much more evidence is needed to spur action in Washington?"
To read the ASCE report, "Failure to Act the Economic Impact of Current Investment Trends in Surface Transportation Infrastructure," go here: http://message.asce.org/forms/FailuretoAct-BAFdownloadform.