Road to Growth | Business Roundtable

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What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

About BRT

America Can’t Wait for Infrastructure Investment

Infrastructure is the foundation of a modern, globally competitive and productive economy. Once the envy of the world, America’s highways, bridges, railways, airports, transit systems and waterways have deteriorated over time and urgently need repair.

Investing in America’s infrastructure is an investment in supporting U.S. workers, households and communities. The cost of continued inaction is too high, and the stakes are too large. It’s time for Congress to pass a bipartisan package that rebuilds America’s foundation.
 

Related: Read Back in Business: A Blueprint for Renewing America’s Infrastructure

General

How does the U.S. stack up globally?

The overall quality of America’s Infrastructure ranks 10th internationally.
Roads & Bridges

23%

More than one in five bridges (23 percent) in the national highway system is either structurally deficient or functionally obsolete.
Roads & Bridges

40%

of major urban highways are congested.
Congestion

$121B/year

Congestion on America’s major urban interstates costs American motorists $121 billion a year in wasted time and fuel costs.
Workforce

Lost Jobs

Failure to close funding gaps across infrastructure systems could lead to 2.5 million lost jobs in 2025, and 5.8 million lost jobs in 2040.
Investment

3 Million

U.S. jobs created in the first year by an annual infrastructure investment of $250 billion.
Investment

Investment will boost economic output by up to $320 billion.

Increasing U.S. infrastructure investment by the equivalent of 1% of GDP per year could boost economic output by up to $320 billion in 2020.
General

D+

America's Infrastructure Scorecard.
Ports & Waterways

144,000

In 2017, there were approximately 144,000 hours of lock shutdowns along U.S. waterways as a result of maintenance and unexpected delays, nearly 90 percent higher than in 2000.
Roads & Bridges

The lost time adds up.

Congestion in major U.S. urban areas cost the average auto commuter an extra 42 hours in travel time in 2014, up from 18 hours in 1982.
Roads & Bridges

Almost 9%

More than 54,000 – almost nine percent – of the nation’s 612,677 bridges are rated “structurally deficient.”
Permitting

$3.7 trillion

Estimates suggest that a six-year delay in starting construction on public infrastructure projects costs the nation over $3.7 trillion.
Water

77 Million

Or about a quarter of the U.S. population, are served by water systems that violate the Safe Drinking Water Act.
Roads & Bridges

$32B More

If infrastructure policies and funding levels remain at their recent levels, national congestion costs will grow from $160 billion in 2014 to $192 billion in 2020.
Transportation

$960

Congestion on U.S. roads across major U.S. urban areas cost the average auto commuter $960 in 2014, up from an inflation-adjusted $400 in 1982.
Roads & Bridges

44%

44 percent of America’s major roads are in poor or mediocre condition.
Roads & Bridges

A mounting problem.

If infrastructure funding does not increase from recent levels, annual congestion-related costs will grow from $960 in 2014 to $1,100 in 2020 for the average U.S. commuter.
Public Transit

Roughly half

of U.S. bus vehicles used in public transit systems are rated in “marginal or poor” condition.
Permitting

6.5 years

The time required to complete a NEPA study has increased from slightly more than 2 years in the 1970s to more than six and a half years in 2011.
Aviation

26th

Only five U.S. airports are ranked in the world’s top 50 airports, with Cincinnati ranked the highest at 26th.
General

5%

Government spending on transportation and water infrastructure as a share of GDP fell by five percent between 2003 and 2014.
General

$27 Billion

As a result of inadequate infrastructure investments, American businesses pay $27 billion annually due to extra freight transportation costs, lengthening shipping delays and raising prices.
General

$3.9 Trillion

Failure to close funding gaps across infrastructure systems could cost the U.S. economy $3.9 trillion by 2025.
General

$3,400/year

Failure to close funding gaps across infrastructure systems could cost the average American household $3,400 per year between 2016 and 2025 – about $9 per day.
Water

$2.6 Billion

As a result of deteriorating infrastructure, the U.S. experiences roughly 240,000 water main breaks each year, leaking billions of gallons of drinking water worth ~$2.6 billion.

Download the Full Report

This report outlines the economic cost of neglecting America’s transportation infrastructure and the positive effects of reinvesting in it for the 21st Century. This Business Roundtable analysis contrasts America’s current investment with 20th Century levels and guides policymakers forward in efforts to rebuild this vital economic foundation.