WASHINGTON, D.C. – June 29, 2015 – (RealEstateRama) — This week, the Congressional Budget Office issued a report (link is external) detailing public spending on transportation and water infrastructure from 1956 to 2014. The report showed that public spending on Transportation and Water Infrastructure has been fairly consistent as a share of Gross Domestic Product (GDP) at about 2.4 percent, which is below the 3.0 percent peak in 1959. It did recently rise to 2.7 percent of GDP in 2009 and 2010 because of the increase in infrastructure investment under ARRA, which temporarily boosted infrastructure spending by $55 billion.
The report provides information on six types of infrastructure: highways, mass transit and rail, aviation, water transportation, water resources, and water utilities. Public spending – federal, state, and local governments – on transportation and water infrastructure totaled $416 billion in 2014. The majority of that spending came from state and local governments, providing $320 billion, while the federal government accounted for $96 billion. Of that spending, 43 percent was for capital expenditures and 57 percent was for operation and maintenance.
AGC will continue to advocate for increased infrastructure investment at all levels of government. For more information, please contact Sean O’Neill at (link sends e-mail) or (202) 547-8892.