The U.S. needs to upgrade its infrastructure as soon as possible.
Years after giving the country a D, the ASCE just gave us a C-, which still isn’t great.
“Many of the country’s roads, bridges, airports, dams, levees and water systems are aging and in poor to mediocre condition. And they’re in need of a major federal investment to keep from getting worse and to withstand the harsh effects of a changing climate, according to the American Society of Civil Engineers,” as reported by NPR.
Even Transportation Secretary Pete Buttigieg says the company’s infrastructure needs could exceed $1 trillion. “Across the country, we face a trillion-dollar backlog of needed repairs and improvements, with hundreds of billions of dollars in good projects already in the pipeline,” he said, as quote by the Associated Press.
In addition, according to The Wall Street Journal, “The federal surface transportation funding authorization that passed in 2015, known as FAST Act, is due to expire in September after a one-year extension passed last year. The industry sees an opportunity for a reauthorization and increase in that pool of funding, whether or not it gets folded into the larger infrastructure bill.”
In short, there’s a big, very urgent need. With folks waking up, it could create opportunity in stocks such as Vulcan Materials (VMC), Fluor Corporation (FLR), United States Steel Corporation (X), Nucor (NUE), and Caterpillar (CAT).