There are work-arounds the U.S. can use to fund affordable housing, drought responses, and other urgently-needed infrastructure that was left out of the two recent spending bills.
Congress has passed two major infrastructure bills in the last year, but imminent needs remain. The2021 Bipartisan Infrastructure Lawchiefly focused on conventional highway programs, and theInflation Reduction Act of 2022 (IRA)mainly centered on energy security and combating climate change.According to the American Society of Civil Engineers(ASCE), over $2 trillion in much-needed infrastructure is still unfunded, including projects to address drought, affordable housing, high-speed rail, and power transmission lines.By 2039, per the ASCE, continued underinvestment at current rates will cost $10 trillion in cumulative lost GDP, more than 3 million jobs in that year, and $2.24 trillion in exports over the next 20 years.
Particularly urgent today is infrastructure to counteract therecord-breaking droughtin the…
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