The White House has estimated that an investment of $3.6 trillion (3.1 trillion euros) would be needed to maintain and improve U.S. infrastructure over the next five years, according to a recently issued press release.
The statement emphasizes that bridges, oil pipelines, railroads, and highways are in dire need of repair and modernization, and that this will require not only significant investment between now and 2020, but also a greater commitment from federal, state, and local governments, as well as increased investment from the private sector.
White House officials have announced that in the coming months, road and port projects will be launched through the Department of Transportation's Transportation Investment Center, in collaboration with state and local governments.
A recent report by IHS has highlighted that investment in infrastructure has a major impact on multiple economic sectors and creates a large number of jobs.
