Poor Infrastructure Costs New York's Drivers $700 A Year

Infrastructure in the United States is in dire need funding and repair. That’s well known, but the scale of the project facing whoever decides to take it on is truly astronomical.

According to Bank of America Merrill Lynch’s Global Economist Ethan Harris and US economist Lisa Berlin, the US needs infrastructure investment totalling $3.3 trillion between this year and 2025.

Infrastructure investment spending has collapsed 

Infrastructure investment spending has dropped to the lowest share of GDP in the post-war period. Last year, government investment in fixed assets totalled $613 billion, which works out at 3.4% of GDP. 60% of this spending was at the state and local level with the 40% remaining at the federal level.

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