Infrastructure compromise is the only path forward
Federal policymakers must step in to help states and localities
It may not be as catchy as “getting your kicks on Route 66,” but getting next-day delivery of your “kicks,” thanks to federal investment in our nation’s highways, is just as fun. Investing in new highways, like Interstate 40, and other critical infrastructure assets created good-paying jobs and unlocked economic potential that has paid dividends for Oklahoma’s economy for generations.
Now, we are on the cusp of another generational opportunity to invest in the infrastructure needs of the Sooner State and our country.
After decades of promises by our elected officials, 2021 must be different. From increased stress on our roads, highways and bridges due to the expansion of e-commerce and a growing population, to millions of Americans lacking access to the reliable and affordable high-speed broadband that supports vibrant and thriving communities, the COVID-19 pandemic has made it clear that previous infrastructure gaps have now grown into craters.
President Joe Biden’s American Jobs Plan now sets the stage for Congress to finally make the transformational investment in our infrastructure that America needs. It will not only create millions of family-sustaining jobs, it also will revitalize Oklahoma and U.S. manufacturing and is expected to add an estimated $5.7 trillion dollars to the U.S. economy by 2024 — 10 times the amount lost during the COVID-19 pandemic.
What does a transformational investment in our infrastructure look like? A sweeping infrastructure investment has the power to simultaneously deliver environmental resilience, harness the digital transformation, retrain American workers and reinforce fiscal health for generations to come.
The digital economy is transforming how businesses operate and people connect with one another. To remain competitive, U.S. manufacturers will need to quickly adapt to this new reality. That means increased access to digital resources and training programs to ensure our workforce has the necessary technical skills that are in high demand. According to a new report published by the Brookings Institution, and made possible with vital funding from the Association of Equipment Manufacturers, the lack of broadband access has made it a lot harder for rural farmers and manufacturing companies to compete. As of 2019, 25% of American farms had no form of internet access, and 72% of farms were without highspeed access.
Oklahomans understand this need. Relying solely on state funding to provide our communities with much needed broadband infrastructure, as well as investments in other critical assets such as clean drinking water, the electric grid and more, likely will not be enough. This story is true in other states across the country. Many states spend below 1% of their annual expenditures on deferred maintenance, leaving an estimated $873 billion maintenance gap in state capital budgeting. That is why federal policymakers must step in and step up to help states and localities overcome many ongoing fiscal barriers.
We need Congress to realize that bipartisanship is the only path forward when it comes to finding a long-term and sustainable funding mechanism for federal infrastructure projects. We cannot let this generational opportunity pass us by. Equipment manufacturers are committed to supporting a compromise that ensures the kind of transformational investment in our nation’s infrastructure that grows our businesses, creates more family-sustaining jobs, improves our quality of life and protects our environment for the generations to follow.