Congressional Budget Office Releases Infrastructure Investment Report

The Congressional Budget Office released a report entitled Trends in Public Spending on Transportation and Water Infrastructure, 1956 to 2004 early this month. They found that government spending transportation and water infrastructure has increased about 2.3 percent annually. (The report does not account for depreciation of infrastructure, so this does not reflect the net investment). Since the late 1980s, state and local spending has been greater than federal spending on infrastructure. Operations and maintenance spending has been greater than capital spending, with state and local governments spending the great majority.