The following is a statement from Gregory E. DiLoreto, P.E., P.L.S, D.WRE, president of The American Society of Civil Engineers (ASCE), in support of the National Infrastructure Development Bank Act of 2013 introduced by Rep. Rosa DeLauro (D-Connecticut):
“ASCE is pleased to support the National Infrastructure Development Bank Act, an innovative financing mechanism that creates additional funding for the nation’s critical transportation, energy, communications, and water infrastructure.
“The nation’s infrastructure is facing an increasing number of challenges. In ASCE’s 2013 Report Card for America’s Infrastructure, a comprehensive assessment of the nation’s infrastructure across 16 sectors, the nation’s cumulative GPA for infrastructure received a grade of D+. The 2013 Report Card estimates total investment needs at $3.6 trillion by 2020 across all 16 sectors, leaving a funding shortfall of $1.6 trillion based on current funding levels.
“It will take creative financing such as state, local, and private investment working in partnership with more traditional funding mechanisms in order to raise the grades for our nation’s infrastructure. For this reason, ASCE supports Congresswoman DeLauro’s efforts to create the National Infrastructure Development Bank Act, a tool that will help fund our nation’s critical infrastructure.”
American Society of Civil Engineers
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