What is Giving Compass?
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Giving Compass' Take:
• Governing magazine reports on infrastructure projects in the US and how much local governments are likely to dole out to support them. The increase year over year is likely to be minimal.
• Which construction should we prioritize in this country: schools, roads, public transportation? And how much should we be reliant on government money to develop such projects vs. private-sector work?
• Here's how we can restore both infrastructure and community together.
It appears increasingly unlikely that Congress will push through a bill this year to repair and upgrade the nation’s infrastructure.
The Trump administration’s proposal in February pledged about $200 billion in federal funding and tasked state and local governments with finding another $1 trillion. There has been little movement on the issue since then.
To put the amount states and localities are being asked to pony up into perspective, it's worth considering how much they're currently spending on construction. The Census Bureau’s most recent estimates suggest state and local governments are on pace to spend about $275 billion this year on new schools, roads and airports, among other infrastructure projects. That represents a minimal increase from last year.
Following the recession, public infrastructure spending dropped as governments made budget cuts. It has subsequently fluctuated since about 2012, while private-sector construction continues to record strong growth.
The Census Bureau estimates an annual rate of construction spending each month. Published amounts represent the "value of construction put in place" by new structures, renovations or major replacements, excluding maintenance and repairs to existing structures.
Read the full article about construction projects governments are and aren't funding by Mike Maciag at Governing magazine.