According to a study conducted by the College of William & Mary’s Thomas Jefferson Program in Public Policy (TJPPP), the U.S. needs to implement innovative ways to finance investment in its infrastructure to avoid adding to the deficit.
Whether through public-private partnerships, individual and corporate contributions, or fee lanes, investing in infrastructure is in the best interest of the U.S. economy.
“We have long argued…infrastructure investment is unique because it facilitates economic activity which in turn generates tax revenues for years to come,” writes Christian Klein, Vice President of Government Affairs & Washington Counsel for the Associated Equipment Distributors (AED). “Unfortunately, we have not had any data to back up our case … until now.”
The study also shows the short term benefits of investing in infrastructure and points out it “goes beyond mere improvements to the quality of roads, highways, sewers, and power plants. These investments also generate significant economic returns for other portions of the U.S. economy and substantially increase ultimate tax revenue for the government.”
The construction aggregates industry can now show the positive benefits of infrastructure investment with sound research.
The full study may be reviewed here.