ConDig (06-Feb-19). Leaders of the US construction industry have urged Congress to shape a new infrastructure upgrade bill after President Donald Trump reiterated the need to rebuild America’s crumbling infrastructure.
The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, said that Trump understood that one of the most effective ways to ensure continued economic growth is through making investments in roads, bridges, water systems and other public infrastructure.
“We strongly urge Congress to act on the President’s call to craft new, bipartisan, infrastructure legislation,” said Sandherr.
“This association and our tens of thousands of member firms will work tirelessly to educate and encourage members of Congress to take the steps needed to improve our aging and over-burdened infrastructure. Our message will be clear, the most effective way to support continued economic growth and prosperity is by investing in infrastructure.”
Last year, Trump pledged to introduce a $1.5 trillion infrastructure bill, but failed to build cross party support due to concerns over funding and so far Congress has only earmarked $21.2 billion towards revamping the nation’s infrastructure.
During his State of the Union address last night, Trump said that “both parties should be able to unite” and pass infrastructure legislation.
“I know that the Congress is eager to pass an infrastructure bill — and I am eager to work with you on legislation to deliver new and important infrastructure investment, including investments in the cutting-edge industries of the future. This is not an option. This is a necessity,” he said.
Leaders of the US homebuilding industry also backed the comments by Trump and called on policymakers to pave the way for a nationwide investment in infrastructure.
“Homeownership and housing are essential to a strong and prosperous nation. Yet, new research by Freddie Mac shows that America’s home builders are constructing 370,000 fewer units annually than needed to satisfy demand,” said Greg Ugalde, first vice chairman of the National Association of Home Builders (NAHB).
“The biggest impediment to this shortfall is due to the growing housing affordability crisis. The administration and Congress must make this issue a top national priority.”
He added that policymakers could start by taking steps to eliminate unnecessary regulations that raise housing costs; enact housing finance reform that enables creditworthy borrowers to obtain home loans and promote job training programs in home building to help address the severe labor shortage that is putting upward pressure on home prices.