The Federal Reserve has utilized all of its monetary tools in fighting the COVID-19 crisis. A new recession is underway. When monetary policy isn’t enough, a country must turn towards fiscal policy. Currently, reviving the lagging US infrastructure sector may be the best approach – infrastructure creates economic growth.
According to an ASCE report, California’s roadway system ranks as the second poorest state in the nation with approximately 44% of roadways in poor condition. Transportation systems are the backbone of economic engine and growth, and to accelerate the improvement of our transportation system in California immediately post COVID-19 lockdown will not only enhance our economic flow but will also pump out more than three times of economic benefit from investments.
• The US infrastructure is 30 years behind its need, a data-driven approach to infrastructure projects could help it catch up
• The COVID-19 crisis could lead to a recession in US. Infrastructure projects creating economic growth with over 300% return for every dollar invested
• Revolutionized technologies and innovation could help make the industry more resourceful and cost-efficient