ASCE released new data in September 2020 showing that deficiencies in our nation's transit systems, roads, and bridges have cascading impacts on the national economy. These preliminary findings state that if industry costs are passed onto customers, costs per household could be as high as $12,500 over 20 years, or $625 dollars per year.
We are facing a funding gap of about $2.1 trillion between 2020 and 2039 with our current spending levels.
Collectively, professional services, manufacturing and health care sectors are expected to lose more than 540,000 jobs by 2040. The findings estimate a current backlog of $176 billion for transit investments, and that is expected to grow to nearly $500 billion through 2039 as existing assets age and if transit capital investment is maintained at the current real level of funding.
Should investment in our nation’s highways, bridges, and public transportation systems continue at current trend levels of capital spending, households and businesses will incur nearly $2 trillion dollars in extra costs cumulatively over the 20-year timeframe of this study.
The full report will be released later in 2020.
Read the Preliminary findings