Washington – Business Roundtable today issued the following statements ahead of President Biden’s unveiling of his infrastructure plan:
“Business Roundtable has long called for infrastructure investment as essential to economic growth—and it’s even more important now to ensure a rapid economic recovery,” said Brendan Bechtel, Chairman and CEO of Bechtel Group, Inc. and Chair of the Business Roundtable Infrastructure Committee. “The Administration and Members of both parties should work together to promote jobs and economic growth by making long overdue investments in our nation’s aging physical infrastructure, and we urge them to do so through a bipartisan, regular order process.
“Repairing and modernizing these systems, including U.S. highways, water systems and broadband, would create a stronger and more equitable economic foundation for all Americans, generate long-term growth for our country and yield vital environmental benefits. Business Roundtable estimates that an investment of approximately $1 trillion to $1.5 trillion is necessary to return U.S. physical infrastructure to a state of good repair, expand capacity to meet expected demand, and invest in new green infrastructure. Infrastructure legislation should also include essential measures to streamline permitting, without lowering environmental protections, which is necessary to ensure rapid progress and to unleash private investment.”
Business Roundtable President & CEO Joshua Bolten added: “Business Roundtable has long supported user fee models, which includes business paying its share, to provide sustainable support for infrastructure investment. To the extent that infrastructure investment, given its unique economic benefits and the need for a rapid recovery from COVID-19, is deficit-funded in the short term, Congress should set a course for steady, reliable funding for infrastructure over the long term. Business Roundtable strongly opposes corporate tax increases as a pay-for for infrastructure investment. Policymakers should avoid creating new barriers to job creation and economic growth, particularly during the recovery.”