The US Department of Treasury released a new analysis on the economic effects of infrastructure investment. This report underscores the need to continue to invest in highways and transit programs (of course, we are more partial to the latter).
- On average, 12% of the household income ($7,600) is spent on transportation.
- For 90% of Americans, transportation costs absorb one out of every seven dollars of income.
- 80% of the jobs created by new infrastructure are filled by middle-class Americans.
- Traffic congestion on our roads costs drivers over $100 billion in wasted fuel and lost time.
- Americans living in “location efficient” housing were able to save $200 per month in lower costs, including paying less at the pump, over the past decade. Great examples of “location efficient” housing being built near A-train stations and along Connect routes in both Denton and Lewisville.
- 61% of Americans are satisfied with their local public transportation service. There were 13 other countries with higher satisfaction ratings. Switzerland was at the top. (No wonder they make great rail cars.)
- 69% of Americans are satified with their local highways/roadways. 14 other countries were higher with Switzerland again sitting at the top.
- Four out of every five Americans agree with the statement that: “In order for the United States to remain the world’s top economic superpower, we need to modernize our transportation infrastructure and keep it up to date.”
Public infrastructure is an important part of the national economy. But, because public infrastucture impacts us all, investment in transportation, specifically transit, is important for Main Street and middle class America. Investment in transit provides more affordable and efficient transportation options and frees up more money for discretionary spending at local businesses and more time with families and recreational activities. Hope to see you on the bus or train soon.