The CEO of one of the largest U.S. construction companies has said the U.S. infrastructure is "in really sad shape," NPR news station WBUR reported on Tuesday.
In a live interview with the Boston hosts of news program Here & Now, Skanska USA's Rich Cavallaro said it would cost trillions of dollars to "have a world-class infrastructure." His take: "Do I think that we can take it all on? No, but we can certainly take a big chunk out of it, and we can put the money where we get the biggest bang for our buck."
Still, Cavallaro called the outlook for the construction industry "positive." The biggest issue, he said, is the lack of a "steady source of funding so we can move forward."
Cavallaro's remarks came as Congress continued to debate funding of the federal Highway Trust Fund, which collects money from a nationwide gas tax and distributes it to the states for building and repairing roads, bridges and other infrastructure.
A series of temporary infusions of cash has kept the fund afloat as lower gas prices and fuel-efficient cars have whittled the take from the gas tax, but politicians and the construction industry agree that a permanent funding solution is needed.