U.S. infrastructure has received an average grade of C minus, according to the 2021 report card released Wednesday by the American Society of Civil Engineers.
“For the first time in 20 years, our infrastructure GPA is a C-, up from a D+ in 2017. This is good news and an indication we’re headed in the right direction, but a lot of work remains,” the ASCE said.
The latest grade comes as President Joe Biden and the Democratic-run House and Senate plan to push for massive infrastructure spending after the latest COVID-19 aid package is enacted later this month. Biden has begun to intensify his
“Build Back Better” pitch on infrastructure after campaigning on improving U.S. roads and bridge.
“The 2021 grades range from a B in rail to a D- in transit,” added the ASCE, which releases its “Report Card for America’s Infrastructure” every four years and began issuing the document in 1998.
“Five category grades — aviation, drinking water, energy, inland waterways, and ports — went up, while just one category — bridges — went down. And stormwater infrastructure received its first grade: a disappointing D. Overall, eleven category grades were stuck in the D range, a clear signal that our overdue bill on infrastructure is a long way from being paid off.”
From the archives (May 2017): U.S. gets D+ grade on its infrastructure report card
And see: Opinion: Our crumbling infrastructure is hurting U.S. competitiveness
The engineering society estimated that the country is “still just paying about half of our infrastructure bill — and the total investment gap has gone from $2.1 trillion over 10 years to nearly $2.59 trillion over 10 years.” The ASCE also said it “urges bold leadership and action, sustained investment, and a focus on resilience to raise the national infrastructure grade over the next four years, so that every American family, community, and business can thrive.”
Investors in infrastructure plays have been anticipating the potential for greater spending with a Democratic-run Washington, pushing the Global X U.S. Infrastructure Development ETF
PAVE,
+1.01%
up by 11% so far this year, topping the broad S&P 500 stock index’s
SPX,
-0.47%
rise of 3%.
But hopes for more infrastructure spending often have been dashed in recent years, turning “Infrastructure Week” into a joke in Washington.
Biden is slated to meet on Thursday with a bipartisan group of House lawmakers on infrastructure, with Transportation Secretary Pete Buttigieg also attending, according to the White House.
“Infrastructure is going to be very important. I’m looking forward to this administration putting forth his infrastructure plan, which is going to come very soon,” said the No. 3 House Democrat, Rep. Jim Clyburn of South Carolina, during an ASCE event on Wednesday tied to the group’s report card.
“I’m just hoping that we can broaden our definition of infrastructure,” Clyburn added. “Broadband is going to be the key to the 21st century in rural America.”
