Secretary Anthony Foxx: U.S. infrastructure needs almost $1 trillion
“2015 Status of the Nation's Highways, Bridges and Transit: Conditions and Performance” confirms that more investment is needed not only to maintain the nation's highway and transit systems but to overcome a nearly trillion-dollar investment backlog.
“Conditions and Performance” is a biennial report to Congress that provides information on the physical and operating characteristics of the highway, bridge and transit components of the nation's surface transportation system.
The new report – commonly known as the “Conditions and Performance” report – identifies an $836 billion backlog of unmet capital investment needs for highways and bridges, or about 3.4 percent more than the estimate made in the previous report.
Addressing the growing backlog—while still meeting other needs as they arise over the next two decades – will require $142.5 billion in combined transportation spending from state, federal and local governments.
In 2012, the most recent year in which the report’s data were available, federal, state and local governments combined spent $105.2 billion on this infrastructure – 35.5 percent less than what is needed to improve highways and bridges.
The report also indicates that $26.4 billion is needed per year to improve the condition of transit rail and bus systems. In 2012, total spending to preserve and expand transit systems was $17 billion.
If transit investment is sustained at those levels, overall transit system conditions are expected to decline over the next 20 years, and increasing the transit system preservation backlog from an estimated $89.8 billion to $122 billion. ■