By MARY GILBERT
As part of its Let's Rebuild America initiative, the U.S. Chamber of Commerce released a report today pushing for the Obama administration to make serious investments in the nation's aging infrastructure, including transportation, telecommunications, energy and water networks. The nation's economic well-being depends on the health of this physical infrastructure, the report contends, and American competitiveness is threatened if it is allowed to fall into disarray.
Fortunately for the Chamber, the president-elect seems to agree; he pledged in his weekly radio address over the weekend to make "the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s."
So where should that money go? Securing more private and public investment for projects is one main focus. More specifically, the report calls for Obama and the 111th Congress to reauthorize two pieces of legislation -- the Water Resources Development Act of 2007 and the Safe, Accountable, Flexible, Efficient Transportation Equity Act. Appointing a qualified administrator for the Federal Aviation Administration is also a major concern.
In the area of energy, the report warns that the current infrastructure is "overstretched" and that failing to expand domestic production of energy sources could lead to "blackouts, brownouts, service interruptions and rationing." Meanwhile, much of the 1 million miles of pipe that delivers water to businesses and homes across the country is "reaching the end of its lifespan," the report claims, and will require significant investment in the years to come.
See the full report here [PDF].
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