Biden’s Infrastructure Plan Is Good But Needs Work
Invest where it counts and get value for money.
Neglect isn’t cheap.
Photographer: David Paul Morris/Bloomberg via Getty Images
Like much of Joe Biden’s presidency to date, the $2.3 trillion infrastructure plan he laid out Wednesday is remarkably ambitious. Rightly so. America’s economic future is at stake.
The country needs a bold new commitment to public investment. The U.S. is visibly falling behind. Any recent traveler to Beijing or Shanghai is struck by how shabby American airports and city grids look in comparison. And this isn’t just about appearances. China is proving that modern infrastructure is an essential component of industrial competitiveness and economic growth. Unless something changes, Washington’s neglect of roads, bridges and other connective tissue, plus failure to invest in the infrastructure of the future — from digital access to clean power grids — will condemn the U.S. to relative economic decline.