ASCE President Andrew Herrmann, P.E., F.ASCE, testified this week before the Joint Economic Committee about the impact of infrastructure on the manufacturing sector. The joint Congressional committee, made up of members of both Houses of Congress, called for the hearing to assess the potential positive impact of infrastructure investment on job creation and economic growth. Other witnesses on the panel included Dr. Veronique de Rugy from the Mercatus Center at George Mason University, Chris Edwards from the Cato Institute, and Robert Puentes from the Brookings Institution.
Herrmann outlined the correlation between the nation’s economic competitiveness and the necessity for a strong infrastructure network. Quoting data from ASCE’s recent economic study assessing the impacts of surface transportation investment trends on long term economic growth, Herrmann called for the committee to recommend passage of job creating infrastructure legislation like a surface transportation reauthorization bill and the reauthorization of FAA programs.
According to ASCE’s Failure to Act (http://www.asce.org/failuretoact) economic study, deteriorating surface transportation programs will cost the American economy more than 876,000 jobs and suppress the nation’s GDP by $897 billion by 2020 if we simply maintain current surface transportation investment levels. Chairman of the Joint Committee, Senator Bob Casey (D-PA), thanked Mr. Herrmann for his compelling testimony and agreed that the time for investment in infrastructure is now.
To view the hearing or read testimony of the witnesses, please visit the Joint Economic Committee website.
For ASCE’s official written statement for the record please visit ASCE’s testimony and correspondence webpage
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