The backbone of the American economy is our infrastructure system – the roads we drive on, the bridges we cross,and the waterways we use for shipping. With a new infrastructure spending bill on the mind of many on Capitol Hill, this Market Intel will shed some light on current and historical spending patterns on America’s roadways and waterways.
Infrastructure projects typically are expansive and costly public systems and facilities created and maintained through federal, state and local government funds. According to the Congressional Budget Office, in 2017 public spending on transportation and water infrastructure accounted for $441 billion through either direct spending or grants. At $177 billion in 2017, U.S. highways are the largest infrastructure expenditure, accounting for 40% of total transportation- and water-related public spending. The largest spending discrepancy between federal and state and local is in water utilities, including water supply and wastewater treatment facilities. Water utilities account for $4 billion, or 4%, of the federal infrastructure budget and $109 billion, or 32% of the state and local budget. Figure 1 outlines the percentage of government expenditures in 2017 for some of the largest infrastructure investments.
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