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The Great Infrastructure Crisis—How Will We Mind the Gap?  

Author:  Susan  Kendall.; Alexander  Heil.; Duane  Callender.; Brian  Wheeler.; Tom  Green.

Source: Volume 35, Number 04, Winter 2015 , pp.29-54(26)

Municipal Finance Journal

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Everyone agrees that the state of infrastructure in the United States is, at best, deplorable. The American Society of Civil Engineers gives America a cumulative grade point average of D+ and estimates that the country needs to invest $3.6 trillion by 2020 but that only $2 trillion in funding is expected to be available. Is $3.6 trillion really necessary? Who will pay for the remaining $1.6 trillion? What does it mean for the economy if the United States fails to fund needed projects? How do utility and infrastructure managers balance capital needs with economic reality? This article discusses the importance of infrastructure investment and how planning decisions are made at the national, state, and local levels.

Keywords:  Infrastructure finance, federal vs. local funding, vehicle miles traveled (VMT) and employment, TIFIA, Tohopekaliga Water Authority

Affiliations:  1: FirstSouthwest’s Northeast Public Finance Group; 2: Port Authority of New York; 3: U.S.Department of Transportation; 4: Toho Water Authority; 5: Citigroup.

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