A new report released by the American Society of Civil Engineers and Value of Water Campaign suggests the federal share of capital investment in water infrastructure should increase drastically to fight an aging system.
“In 2019, total capital spending on water infrastructure fell $81 billion short of the capital need,” the report notes. It further stated if funding needs and infrastructure investment trends continue, the annual gap will grow to $136 billion by 2039. In 2017, the federal share of capital investment was 4% compared to 31% in 1977.
This report is one of five studies in the series that ASCE will release this year. Other studies will address electricity, surface transportation, ocean ports and inland waterways.
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On a webinar about the report, Democratic Rep. John Garamendi of California urged the Senate to take up the House’s $1.5 trillion infrastructure bill passed in July and said it could be financed with long-term debt as well as pulling back what he called unnecessary benefits given to the super wealthy.