Federal investment in infrastructure is critical to economic growth

One of the hottest topics on the campaign trail this election season has been the nation’s crumbling infrastructure. The need to rebuild and improve our mass transit networks, roads and bridges is unquestionably one of America’s greatest challenges. But, it is also a great opportunity to put millions of Americans to work and give the economy a shot in the arm. While we have heard this argument for months, it is important for voters to understand exactly how a major investment in our infrastructure will positively impact their pocketbooks.

As one of the leaders in the nation’s second busiest mass transit network, I know firsthand the economic benefits that improved infrastructure has on neighborhoods and businesses. Homes located near mass transit have higher property values, while nearby businesses have greater access to customers. In addition, public transit customers can save thousands of dollars a year by choosing mass transit over driving for their daily commute. Despite these benefits, capital investment in the country’s mass transit infrastructure has fallen short.  Meanwhile, other nations are proactively investing in modern, high-tech transit systems to meet the demand of a growing population.

{mosads}An inferior national transit system has led to more cars being on the road, which means increased congestion and strain on our roads and bridges. A 2014 report prepared by the National Economic Council and the President’s Council of Economic Advisers stated that 65 percent of America’s major roads are rated in less than good condition, and one in four bridges are in need of significant repair or cannot handle today’s traffic. More alarmingly, our transportation network has deteriorated to the point that poor road conditions are at fault for one-third of traffic fatalities.

American families would also benefit from improved infrastructure by spending less on vehicle maintenance. TRIP, an industry group that examines surface transportation data, estimates that the average motorist in the United States pays $377 a year in vehicle operating costs due to damaged roads.

Modernizing the nation’s infrastructure will require an immediate and significant investment. The U.S. Department of Transportation’s most recent report on America’s transportation infrastructure found that the state of good repair and preventative maintenance backlog for transit is at $86 billion—and growing by an estimated $2.5 billion each year. To eliminate that backlog would require an investment of $18.5 billion annually. This is a large sum, to be sure, but it pales in comparison to the positive impact it would have on the American economy.

This fall, I urge America’s voters to make investing in the nation’s infrastructure woes a national priority. The solution requires a holistic approach that improves not only our roads and bridges, but also the mass transit systems that save commuters money and reduce congested roads. A major investment with this approach will create millions of jobs and contribute to the long-term success of the U.S. economy. What better way to start the first 100 days of 2017?

Leanne Redden is executive director of the Regional Transportation Authority in Chicago.

The views expressed by authors are their own and not the views of The Hill.