Infrastructure Week Is This Week; Here’s Why It’s So Important
The 6th annual Infrastructure Week started Monday, May 14. Nearly 100 events are scheduled throughout the country. This week is designed to call attention to the United States’ rapidly expanding infrastructure needs and to offer American businesses and families the opportunity to call for action on infrastructure from state legislatures and Congress. Infrastructure Week is important because, according to the American Society for Civil Engineers (ASCE):
- Congress and the states must spend an additional $206 billion annually to repair and build infrastructure to keep up with population growth;
- Each year families lose $3,400 in disposable income due to infrastructure deficiencies;
- Every $1 billion in infrastructure spending creates 28,500 jobs; and
- If the nation’s $2 trillion infrastructure investment gap is not addressed, the economy will lose almost $4 trillion in GDP and 2.5 million jobs by 2025.
Click here to learn how you can get involved in Infrastructure Week. Unfortunately, it does not look like an infrastructure bill will move on Capitol Hill this year. Last week, White House Press Secretary Sarah Sanders said she is “not sure” what the status of infrastructure legislation is.
Click here to read more about MSCI’s position on infrastructure investment.