Friday, January 17, 2014
WASHINGTON, D.C. -- The following is a statement from Randall (Randy) S. Over, P.E., F.ASCE, president of the American Society of Civil Engineers (ASCE) in support of the bill to rebuild America’s infrastructure introduced by Sens. Michael Bennet (D-Colo.) and Roy Blunt (R-Mo.):
“ASCE is pleased to endorse the Partnership to Build America Act of 2014 (S. 1957), legislation which would finance the rebuilding of our country’s infrastructure through the use of innovative financing paired with public-private partnerships. The Senate bill is a companion to the bipartisan legislation introduced last year in the House of Representatives by Rep. John Delaney (D-Md.).
“The nation’s infrastructure is facing an increasing number of challenges. In ASCE’s 2013 Report Card for America’s Infrastructure, a comprehensive assessment of the nation’s infrastructure across 16 sectors, the nation’s cumulative GPA for infrastructure rose slightly to a D+ from a D in 2009. The 2013 Report Card estimates total investment needs at $3.6 trillion by 2020 across all 16 sectors, leaving a funding shortfall of $1.6 trillion based on current funding levels.
“According to ASCE’s Failure to Act reports - a series of economic studies looking at the link between our economy and our infrastructure - if we continue to invest at our current levels, our quality of life will get worse as both families and businesses struggle to compete in an ever-changing, global economy. The nation’s deteriorating infrastructure will cost American families $3,100 annually in lost income and suppress the growth of the country’s Gross Domestic Product (GDP) by $3.1 trillion by 2020.
“The Partnership to Build America Act allows for additional funding for the nation’s critical transportation, energy, communications, water, and education infrastructure. By creating an infrastructure fund using repatriated corporate earnings, as well as through the use of public-private partnerships, this important legislation is creating another innovative financing source for our nation’s infrastructure. It will take creative financing working in partnership with more traditional funding mechanisms in order to raise the grades for our nation’s infrastructure.
“ASCE commends Senators Bennet and Blunt for sponsoring the Partnership to Build America Act, and looks forward to working with Congress to see the bill through to final passage.“
Founded in 1852, the American Society of Civil Engineers represents more than 145,000 civil engineers worldwide and is America's oldest national engineering society. For more information, visit www.asce.org.