A $1.2 trillion investment in rebuilding American roads, bridges, transit and water systems would create 27 million jobs over the next 5 years. In the first year alone, the economy would add 5.2 million new jobs and grow by $400 billion. In the second year unemployment would be reduced to 5.6%. These are among the findings of the New America Foundation report The Way Forward.
Nearly everybody agrees that America’s infrastructure is broken and is in need of immediate repair and replacement. The American Society of Civil Engineers gave America a D grade in infrastructure quality and has estimated that $2.2 trillion is needed to bring our nation’s infrastructure to good repair. The World Economic Forum (WEF) ranks the United States 24th in infrastructure quality.