Our country is falling ever-further behind most of the developed world when it comes to infrastructure spending. We currently spend about 2% of our GDP on infrastructure, while Europe spends around  5% and China a whopping 9%!

John Kerry has introduced, with bipartisan support, the BUILD Act to revolutionize the way we build and maintain our national infrastructure. Today, he was in Taunton, describing the situation:

Greater innovation combined with new investments in infrastructure and energy is vital to the nation’s future, Sen. John Kerry told a group of local business and education leaders Friday during a stop in Taunton.

“This is an important time for all of us to think about your country and where it’s going,” said Kerry, D-Mass., who was speaking at the Taunton Inn to state Sen. Marc Pacheco’s Business and Economic Advisory Council. Pacheco created the informal group several years ago to discuss economic issues facing the region.

Kerry touted his BUILD Act legislation and criticized the Republican Sen. Paul Ryan’s budget plan, which he called “reckless” and “dangerous.”

America’s infrastructure and transit system is dated and has fallen behind that of many other industrialized nations, the 2004 presidential nominee said. The BUILD Act legislation, if enacted, would create an infrastructure bank to fund large-scale infrastructure improvements projects. The fund, which would not use grants, would only fund projects that will generate revenue and will be able to repay the loan.

“We need to out-innovate, out-educate and out-build the rest of the world,” Kerry said.

The 21st century economy we need depends on a modern infrastructure. Right now, we need to do better to be competitive in this new economy.