regressive . They hit middle- to lower-income people more so than the wealthy ,” Silverman said , yet he noted that tax measures are not the only way to secure infrastructure funding . The American Society of Civil Engineers ( ASCE ) suggests the United States would need to invest $ 4.5 trillion in infrastructure by 2025 to avoid “ serious economic consequences ,” and a multifaceted funding plan may be necessary to reach that .
Look to President Dwight D . Eisenhower ’ s national interstate highway system plan , for instance : Through a combination of funding taxes , tolls and bond issuances , the former presidential administration paid for one of the largest infrastructure projects in American history , Silverman said .
In 2009 , Congress introduced Build America Bonds ( BABs ) that helped to finance $ 182 billion in new infrastructure spending following the 2008 financial crisis , Silverman said . “ If BABs were received by investors similarly today , they could pay for about 10 % or so of what Congress thinks it ’ ll take to fix our infrastructure ,” he said .
Silverman also pointed to public-private partnerships ( P3s ) as a viable source of funds , one that “ didn ’ t exist in Eisenhower ’ s time .”
Impacts on US transportation
Biden ’ s infrastructure plan brings a “ green vision ” to the table that is “ really different from what we ’ ve seen before ,” said BI infrastructure and building analyst Sonia Baldeira . Biden ’ s infrastructure plan is based on a “ net-zero economy , a transition economy ,” she said , that can transform today ’ s transportation landscape in America .
■ Railways : Baldeira first pointed to Biden ’ s plans for a “ second great railroad
22 DITCHMEN • NOVEMBER 2020