This week, President Obama spoke about the importance of long-term investments in our country's infrastructure in front of Delaware's Interstate 495 Bridge. In his remarks, President Obama discussed how much the economy has rebounded over the past few years and how we've got a "huge opportunity to keep this momentum going...but also to make sure that growth is broadly shared." The President also announced the launch of the Build America Investment Initiative, a government-wide initiative to increase infrastructure investment and economic growth.
The Build America Investment Initiative will continue to build on the progress our economy is making by creating jobs and expanding opportunity for all hardworking Americans. This initiative has been hailed by leading stakeholders. Here's a sample of what they're saying:
Oregon Governor John Kitzhaber
Oregon applauds the President’s new “Build America Infrastructure Initiative” announced today. We look forward to working with the new federal inter-agency work group, both here in Oregon and through our three-state partnership, the West Coast Infrastructure Exchange (WCX)."
BlackRock — Larry Fink, Chairman and CEO
The President's announcement represents a major step forward towards addressing America's infrastructure needs. Our current infrastructure deficit is an economic drag on businesses and consumers alike, and further investment is crucial to fostering economic growth, creating jobs, and keeping us competitive in the global economy.
As these initiatives recognize, private investment will be crucial to successful infrastructure development, especially in light of fiscal constraints on the government. Nonetheless, Congress should continue to develop a more permanent and comprehensive plan to build the 21st-century infrastructure the nation so badly needs.