Bill Sandbrook, our CEO, was a guest on Fox Business Network’s Morning’s With Maria this morning. In the lengthy segment, which can be viewed below, Bill talks about the condition of infrastructure across the country and the significant need for Washington to no longer kick the can down the road when it comes to investing in infrastructure.
In the interview, he notes that:
- There are $4 trillion in infrastructure needs right now;
- The ASCE recently gave the country's infrastructure a D-plus rating;
- There are 56,000 structurally deficient U.S. bridges;
- The World Economic dropped U.S. infrastructure to sixteenth in the world from fifth;
- The Business Roundtable only rated four U.S. airports in the top 50 worldwide;
- U.S. motorists lose $523 annually in additional vehicle operating costs as a result of driving on roads in need of repair; and
- The gas tax hasn’t been raised since August 10, 1993 – prior to Amazon's existence!
“There are $4-trillion in infrastructure needs right now,” said Bill. “The uncertainty of a 10-year planning and permitting process is an issue. There are 56-k bridges that are deficient right now.” Since the federal gas tax has not been raised in over 30 years and our needs have evolved well beyond what states have instituted themselves, it is time to get something done. Furthermore, Bill expressed optimism that Congress will address infrastructure, as both parties supported an infrastructure bill during the election, and notes that it’s something that draws support from both sides of the aisle.