Inflation taking bite out of new infrastructure projects
Associated PressThe price of a foot of water pipe in Tucson, Arizona: up 19%. “The cost of those projects is going up by 20%, by 30%, and just wiping out that increase from the federal government that they were so excited about earlier in the year.” In Casper, Wyoming, the low bid to rebuild a major intersection and construct a new bridge over the North Platte River came in at $35 million this spring — 55% over a state engineer’s estimate. White House senior adviser Mitch Landrieu said the infrastructure law “actually positions us for lowering costs for families in the short- and long-term.” He pointed, among other things, to made-in America requirements for steel, iron and other construction materials that could strengthen supply chains and thus lower costs. Overall, Missouri’s highway construction costs for the fiscal year ending in June were $139 million over budget — an 11% increase that marked a “pretty significant swing” from several under-budget years, said state Department of Transportation Director Patrick McKenna. Though Missouri forged ahead with this year’s projects, inflation “will take a bite out of the future,” McKenna said.
History of this topic
Why the White House hasn't benefited much from investing in infrastructure
NPR
Inflation is bad. Infrastructure is good.
CNN
Infrastructure push: White House breaks down needs by state
Al Jazeera
A closer look at Biden’s infrastructure and tax proposals
Associated Press
A closer look at Biden’s infrastructure and tax proposals
Associated Press
America could really, truly get infrastructure improvements soon
CNNInfrastructure spending must be core to Federal Budget's recession recovery plan: economists
ABCDiscover Related
