Infrastructure

A modern physical infrastructure is a critical driver of increased investment, job creation and overall economic growth. The current state of U.S. infrastructure – from roads and bridges to air traffic control and navigable waterways – lags behind the nation’s global competitors. Business Roundtable supports policies that will increase investment in key infrastructure projects and modernize how the future transportation system is funded and managed.

One of the biggest impediments to maximizing long-term economic growth is the urgent need to modernize our nation’s infrastructure. The cost of inaction is too high for all Americans who depend on reliable, modernized infrastructure.

For instance, congestion on America’s major urban interstates costs American motorists $121 billion a year in wasted time and fuel costs. And failing to close funding gaps across America’s infrastructure systems could lead to 2.5 million lost jobs in 2025 and 5.8 million lost jobs in 2040.

There are several important principles for sound infrastructure policy. These include strengthening “user pays” models, unlocking the full potential of private investment, investing for maximum impact, putting smart regulation to work, accelerating innovation, and planning to maintain what is built. These principles must not only be applied to roads, bridges, public transit and rail. They must also be used to renew ports and inland waterways, aviation infrastructure, drinking and wastewater facilities, and energy infrastructure. 

AECOM CEO Mike Burke on America’s Infrastructure

"For decades now, we have under-invested in the necessary infrastructure to eliminate the friction on today's economy," explains Mike Burke, CEO of AECOM and Chair of the Business Roundtable Infrastructure Committee.

Policymakers can work to incentivize private investment and expedite permitting approval processes to accelerate infrastructure development. For years, onerous permitting processes and regulations have stood in the way of infrastructure improvements American communities depend on. The Administration has taken actions to expedite review and permitting for major U.S. infrastructure projects that will help increase American competitiveness and economic growth. But there is more to be done.

The Time To Act Is Now

In May 2018, Business Roundtable Chairman Jamie Dimon, NBC's Chuck Todd and leaders in business, government and labor held a discussion on the need for infrastructure renewal and the mounting economic consequences of inaction.

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"When President Kennedy said we’re going to put a man on the moon, eight years later, a man was walking on the moon. Now when someone says we’re going to build a bridge, eight years later, we’re still trying to get permits for the bridge."

Jamie Dimon

Chairman and Chief Executive Officer

JPMorgan Chase & Co.

Congress must ultimately come up with a long-term solution to shore up federal trust funds that support highways, inland waterways and ports. America’s economy depends on it.