Time to Invest in Infrastructure, Revive Jobs, New Report Argues

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PRESS RELEASE
-For Immediate Release-
Dec. 12, 2013

Contact: Brian Gumm, bgumm@foreffectivegov.org, 202-683-4812

Time to Invest in Infrastructure, Revive Jobs, New Report Argues

WASHINGTON, Dec. 12, 2013—This week, a special House-Senate budget committee proposed a federal budget deal that continues to ignore essential and pressing public infrastructure needs. A new report published today by the Center for Effective Government argues that Congress needs to focus on our investment deficit. It argues that Congress needs to pay more attention to investments in critical infrastructure in order to reinvigorate the economy and create jobs.

"We have an aging infrastructure in desperate need of repairs, over 20 million Americans searching for full-time work, and low interest rates. We are going to have to make these investments at some point in the near future. If we make them now, we’ll save money and create needed jobs as a bonus," said Katherine McFate, President and CEO of the Center for Effective Government. "The deficit is falling rapidly. It’s time to focus on jobs and the economy."

The report, The Bridge to Prosperity: Reverse Reckless Cuts, Restore Our Infrastructure, and Revive Jobs, looks at five areas experiencing an investment deficit:

  • Bridges
  • Schools
  • Levees and dams
  • Clean water infrastructure
  • Roads

"Investing now to repair our crumbling bridges and roads, renovate our children's aging school buildings, and improving flood control and water treatment structures would pay real benefits in increased safety for all Americans, better health for students and teachers alike, and less property damage from floods and other natural disasters," said Nick Schwellenbach, senior fiscal policy analyst and co-author of the report. "A $124 billion investment in these essential public structures would create as many as 2.5 million jobs across the country, spur the economy, and bring in tax revenue for every level of government."

Closing tax loopholes that allow corporations to offshore their profits, avoid paying taxes, and shift jobs to other countries; a Wall Street sales tax to discourage excessive speculation and volatile trading; and giving Medicare the same power to negotiate lower drug prices with Big Pharma could raise the funds to pay for these programs.

"America is still the wealthiest country on earth, and we can afford to do this," said Schwellenbach. "Indeed, we can't afford to ignore these crucial needs any longer."

The report is available online at http://www.foreffectivegov.org/the-bridge-to-prosperity.

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The Center for Effective Government is dedicated to building an open, accountable government that advances the priorities defined by an informed citizenry. Find the Center for Effective Government on Facebook and Twitter.

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