Issues

Creating Jobs Rebuilding America

Our nation’s infrastructure is collapsing, and the American people know it.  Every day, they drive on roads with unforgiving potholes and over bridges that are in disrepair.  They wait in traffic jams and ride in railroads and subways that are overcrowded.  They see airports bursting at the seams.

For too many years, we have dramatically underfunded the physical infrastructure that our economy depends on.  That is why I have proposed the Rebuild America Act, to invest $1 trillion over five years to modernize our infrastructure.  It would be paid for by closing loopholes that allow profitable corporations to avoid paying taxes by, among other things, shifting their profits to the Cayman Islands and other offshore tax havens.

Importantly, the Rebuild America Act will support more than thirteen million good-paying jobs – jobs that our economy desperately needs.

                                                                                                — Senator Bernie Sanders

 

PUTTING 13 MILLION AMERICANS TO WORK

A PLAN TO REBUILD AMERICA

 

For most of our history, the U.S. proudly led the world in building infrastructure that grew our economy, gave our businesses a competitive advantage, and provided our workers a decent standard of living. Sadly, that is no longer the case.

Today, the U.S. spends less than 2 percent of GDP on infrastructure, less than at any point in the last twenty years. Meanwhile, Europe spends close to twice our rate, and China spends close to four times our rate.  It is no wonder the World Economic Forum’s Global Competitiveness Report now ranks our overall infrastructure at 12th in the world – down from 7th place just a decade ago.

The results are all around us:

Senator Sanders’ Rebuild America Act would more than double the current level of funding for the highway and transit accounts of the Highway Trust Fund, and would create a National Infrastructure Bank to leverage private capital to finance more than $125 billion in new projects.

The Rebuild America Act will invest $75 billion to upgrade our passenger and freight rail lines, to move people and goods more quickly and efficiently. It’s time for America to catch up with the rest of the world.

The Rebuild America Act will invest $12.5 billion to improve airports across the country, and $17.5 billion to bring our air traffic control system into the 21st century by accelerating deployment of NextGen technology to make our skies safer and our airports more efficient.

The Rebuild America Act will invest an additional $15 billion over five years to clear the backlog of projects to improve inland waterways, coastal harbors and shipping channels.  Our businesses simply can’t compete in the global economy if they can’t move their goods and supplies to, from and within our country more efficiently.

The Rebuild America Act will invest $12 billion a year to repair and improve the high-hazard dams that provide flood control, drinking water, irrigation, hydropower, and recreation across the country; and the flood levees that protect our cities and our farms.

The Rebuild America Act will invest $6 billion a year so states can improve the drinking water systems that provide Americans with clean, safe water; and $6 billion a year to improve the wastewater plants and stormwater infrastructure that protect water quality in our nation’s rivers and lakes.

The Rebuild America Act will invest $10 billion a year for power transmission and distribution modernization projects to improve the reliability and resiliency of our ever more complex electric power grid.  This investment will also position our grid to accept new sources of locally generated renewable energy, and it will address critical vulnerabilities to cyber-attacks.

The Rebuild America Act will invest $5 billion a year to expand high-speed broadband networks in under-served and unserved areas, and to boost speeds and capacity all across the country.  Internet access is no longer a luxury: it is essential for 21st century commerce, education, telemedicine, and public safety.

If $1 trillion over five years sounds like a lot of money, consider that the American Society of Civil Engineers says we need to invest $3.6 trillion by 2020 just to get our nation’s infrastructure to a state of good repair.That is $1.6 trillion short of current spending levels.

Moreover, there is an economic cost of not acting.  Several studies have concluded that our deteriorating infrastructure already costs our economy close to $200 billion per year.

Further, investing in infrastructure is not just about “bricks and mortar.”   At its core, it is about jobs and the economy.

While the economy has improved significantly since the worst days of the recession, our nation still faces a major jobs crisis.  We need to create millions of decent paying jobs, and we need to create them now.  And infrastructure spending is one of the best ways to do just that.

The Rebuild America Act would put more than thirteen million Americans to work in decent-paying jobs.  These are jobs in sectors of the economy that haven’t fully recovered from the recession, like construction, and they are jobs that cannot be shipped offshore or outsourced overseas.

Moreover, each and every project will require equipment, supplies and services – from architects, engineers, and building materials and supply companies.  Thirteen million Americans will spend their hard-earned salaries in their communities, supporting restaurants and local stores.

It is no wonder groups from across the political spectrum – from organized labor to the U.S. Chamber of Commerce – agree that investing in infrastructure makes sound economic sense.  When spending goes up, both GDP and household incomes grow.  Even the International Monetary Fund – long a proponent of economic austerity – now says that well-designed infrastructure projects spur almost $3 in economic output for each dollar spent.

Every family, every community and every business relies on our nations’ physical infrastructure to survive and to thrive.  We expect that our roads, bridges and trains will get us to our destination without injury, and that our airports are modern and safe.  We expect that our tap water is clean, and that our dams and levees won’t burst when it rains.

The good news is that it is not too late to get back on track.  Let’s make a significant investment in the physical infrastructure on which our economy and our society depend upon.  Let’s create the millions of jobs we desperately need by making our tax code fair and just.  Let’s Rebuild America

— Senator Bernie Sanders