The USDA’s Agricultural Marketing Service has released an independent report that shows a lack of funding for infrastructure improvements is very costly. It says that lack of funding support could put more than $72 billion in additional Gross Domestic Product and 77,000 new jobs at risk. Soy Transportation Coalition Executive Director Mike Steenhoek says the study clearly shows that one time investment in infrastructure isn’t enough.
He says the report does a good job of showing not only the benefits of investing in infrastructure but also the consequences of not funding those projects.
Steenhoek says one way for the federal government to improve the economic stability for farmers and ranchers is to properly fund infrastructure upkeep.
The AMS report also shows that the current appropriated funds for inland waterway upkeep which maintains the status quo doesn’t enable the U.S. Army Corps of Engineers to keep pace with barge volume traffic or growth and infrastructure maintenance needs.
