Among the tools at the government’s disposal to boost jobs, rebuilding our infrastructure is one of the options with the greatest impact. After President Barack Obama proposed the American Jobs Act, Mark Zandi, chief economist at Moody’s Analytics, found in 2011 that new federal spending for infrastructure improvements to highways and public schools would generate $1.44 of economic activity for each $1 spent. In reviewing the economic impact of the American Recovery and Reinvestment Act of 2009, the Congressional Budget Office found that infrastructure investments and purchases by the federal government for goods and services had the largest jobs multiplier impact of all the stimulus elements.
American families and communities are suffering from the consequences of anemic economic growth and high unemployment. Meanwhile, aging roads, bridges, water systems, and other key public assets are putting our public safety and national economic competitiveness at risk. The challenges present an obvious opportunity for bipartisan action: Boost infrastructure investments that build permanent public assets, generate business for small- and medium-sized companies, create jobs, and enhance our global competitiveness.
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