U.S. infrastructure spending has plummeted in last 5 years
| May 30, 2013 |
According to a report from our sister site Better Roads, infrastructure spending in the U.S. has plummeted in the last five years.
Citing data that began in 2002, Better Roads reports that highway and road construction spending began a major decline in 2009.
It should come to no surprise that the culprit is the country’s most recent recession. “Most states cut back on transportation and infrastructure funding around 2008, with California’s transportation budget declining 31 percent between 2007 and 2009 and Texas cutting back 8 percent in the same period,” Better Roads reports.
And while states cut infrastructure spending, Congress, despite $46 billion in federal funds dedicated to transportation in the stimulus bill, did not compensate quite enough.