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It could cost over $3.3 trillion over the next decade to keep up with repairs on America’s roads, bridges and other critical infrastructure, according to the latest “report card” from the American Society of Civil Engineers. The engineers said that amount is $1.4 trillion more than will be spent on infrastructure at current funding levels, a gap that will grow to more than $5 billion by 2040 without additional investment, resulting in more highway traffic jams and possible power outages. They also said the further deterioration of the nation’s infrastructure would reduce employment growth by 2.5 million jobs and U.S. GDP by $4 trillion.
“America is currently spending more failing to act on its infrastructure gap than it would to close it,” said former society president Greg DiLoreto. (CNBC.COM)