Inflation Takes Bite Out of New Infrastructure Projects
Cost increases are forcing officials to postpone projects and scale back others.
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Cost increases are forcing officials to postpone projects and scale back others.
Inflation is taking a toll on infrastructure projects across the U.S., driving up costs so much that state and local officials are postponing projects, scaling back others and reprioritizing their needs.
Cost increases are forcing officials to postpone projects and scale back others.
Inflation is taking a toll on infrastructure projects across the U.S. Rising prices for materials such as asphalt, steel and iron pipes are driving up the costs to build roads, bridges, rail lines and water mains.
The price hikes already are diminishing the value of a $1 trillion infrastructure plan President Joe Biden signed into law just seven months ago.