The U.S. needs to upgrade its infrastructure as soon as possible.
Years after giving the country a D, the ASCE just gave us a C-, which still isn’t great.
“Many of the country’s roads, bridges, airports, dams, levees and water systems are aging and in poor to mediocre condition. And they’re in need of a major federal investment to keep from getting worse and to withstand the harsh effects of a changing climate, according to the American Society of Civil Engineers,” as reported by NPR.
The good news — a potential $1.2 trillion bipartisan infrastructure bill may be nearing a final vote this week. “We are within days, possibly within hours of seeing this historic legislation that’s going to get us better roads and bridges, better ports and airports, a better future for our economy and creating millions of jobs,” Transportation Secretary Pete Buttigieg said, as quoted by CNN.
In addition, according to CNN, “It features $550 billion in new federal spending over five years. The measure invests $110 billion in funding toward roads, bridges and major projects, $66 billion in passenger and freight rail, $65 billion to rebuild the electric grid, $65 billion to expand broadband Internet access, and $39 billion to modernize and expand transit systems.”
If we see further progress on the bill, it could create bigger opportunity in stocks such as Vulcan Materials (VMC), Fluor Corporation (FLR), United States Steel Corporation (X), Nucor (NUE), and Caterpillar (CAT).