John Plassard (Mirabaud) | America’s infrastructure has long been infamous for its poor state. But it has final dawned on the country that something needs to be done. US President Joe Biden announced in mid-June that a bipartisan group of senators had reached consensus on a bill that would allocate $579 billion to spending on infrastructure. review of data by the American Society of Civil Engineers (ASCE) and the US Army Corps of Engineers shows how America’s infrastructure has aged. In its latest report on U.S. infrastructure, the ASCE put the average age of levees and dams to be 50 and 57 years old, respectively, meaning they are at or beyond their expected service age.
Biden infrastructure plan
President Biden is set to announce his plan for additional fiscal stimulus today. Previous reports suggest that the new US stimulus package to be proposed by President Joe Biden calls for $3 trillion in new spending, although reports in the Washington Post raise the figure in Biden’s proposal to $4 trillion, which would be funded by tax increases of $3 trillion, up from the $1 trillion initially estimated.