Strengthen U.S. Infrastructure With Small Business Goal

February 22, 2021

Problem:

Modern infrastructure plays a critical role in enabling small businesses to grow, and yet, over the past 35 years, government investment in infrastructure has significantly decreased. There needs to be an adequate level of federal investment in our roads, bridges, and broadband network to keep up with the growing needs of small businesses. Investments in these infrastructures will help small businesses reach new domestic and international customers, tap new suppliers, and expand their business operations.

  • In 2020, House Democrats released the Moving Forward Framework outlining a five-year, $760 billion investment to get our existing infrastructure working again and fund new, transformative projects that will create more than 10 million jobs, while reducing carbon pollution, improving safety, and spurring economic activity. The Framework aims to improve roads and highways; rail and transit systems; bridges; airports; ports and harbors; drinking and wastewater systems; and access to highs-speed internet.
  • According to CBO estimates, the Framework would create up to $1.2 trillion in Gross Domestic Product (GDP) growth.
  • A majority of small businesses rate high speed internet, local roads and bridges, cell phone networks, and highways as vital to the success of their companies.
  • Without additional investments in infrastructure, the American Society for Civil Engineers estimates that by 2025 there will be serious consequences, including: $3.9 trillion in losses to the U.S. GDP, $7 trillion in lost business sales, and 2.5 million lost American jobs.

Solution:

Policymakers must begin the work of improving our failing infrastructure from roads and highways to clean water and high-speed internet. Not only do small businesses rely on these critical services, but they can also help build up, improve, and secure these services.

  • Without additional investments in infrastructure, the American Society for Civil Engineers estimates that by 2025 there will be serious consequences, including: $3.9 trillion in losses to the U.S. GDP, $7 trillion in lost business sales, and 2.5 million lost American jobs.
  • Congress should prioritize allocating an adequate level of federal investment in infrastructure to keep up with the growing needs of small businesses.
  • Small businesses must play an essential role in upgrading and maintaining our infrastructure and transportation networks.
  • Infrastructure projects should embrace clean technology and energy throughout the project and enhance efficiency and sustainability wherever possible.