Congress recently passed a $305 billion, five-year highway and transit bill but this only a small step in improving America's infrastructure woes. A report by the Center on Budget and Policy Priorities shows that state and local spending on infrastructure is at a 30-year low with total capital spending as a share of state GDP falling in all but five states and Washington D.C between 2002 and 2013.
The American Society of Civil Engineers 2013 report card shows that the U.S. needed such infrastructural changes as $1.7 trillion for roads, bridges and transit and $736 billion for electricity and power grids. States have varied greatly in the amount budgeted to fixing these infrastructure issues which if fixed could have a dramatic impact:
The new report, written by senior fellow Elizabeth McNichol, says that reversing the relentless decline in state investment in transportation, public buildings and other forms of vital infrastructure “is the key to creating good jobs and promoting full economic recovery,” especially at a time of improved economic conditions and historically low interest rates.