Long-term Economic Benefits and Impacts from Federal Infrastructureand Public Transportation Investment

Chairman Brown, Ranking Member Scott, and Members of the Committee, thank you for the opportunity to testify before you today on the important topic of the “Long-term Economic Benefits & Impacts from Federal Infrastructure and Public Transportation Investment.” I’m Rick Geddes and I serve as the Academic Director and Founder of Cornell University’s Program in Infrastructure Policy, or CPIP. I am also a Professor in Cornell’s Jeb E. Brooks School of Public Policy, Professor of Economics at Cornell, and a Non-Resident Senior Scholar at the American Enterprise Institute.

I am pleased today to discuss infrastructure policy. Civil infrastructure is indeed the backbone of any modern society. It encompasses the fundamental facilities and systems that support daily life, economic activities, and overall well-being. Its importance can be understood through several key aspects:

Infrastructure’s impact on the economy
Infrastructure supports economic development. Well-developed infrastructure such as roads, bridges, ports, rail, and airports facilitate trade, reduce transportation costs, and enhance connectivity, driving economic growth. It supports industries by providing efficient logistics and supply chains. Infrastructure such as water supply systems, sewage treatment plants, and waste management facilities are crucial for public health. They ensure access to clean water, proper sanitation, and the effective disposal of waste, reducing the risk of disease outbreaks. Civil infrastructure also impacts the quality of life by providing essential energy services including electricity, heating, and cooling. Robust infrastructure is essential for disaster preparedness and the ability to respond to potential and real disasters. Well-designed and maintained infrastructure can withstand natural disasters such as earthquakes, floods, and hurricanes, minimizing damage and aiding in recovery.

Read the Full Testimony Below