Imagine your business poised to seize trillion-dollar market opportunities, only to find the gates locked by antiquated infrastructure—rusty chains constraining growth. This is the predicament facing American enterprises today. Amid pandemic shocks, social unrest, and eroding trust, the U.S. Chamber of Commerce delivers a resounding declaration: American business remains resilient. The linchpin for economic revival? A sweeping infrastructure modernization campaign.
Chamber of Commerce: Infrastructure as the Engine of Recovery
In his annual "State of American Business" address, Chamber CEO Thomas J. Donohue struck a definitive tone: while violence remains intolerable, the imperative lies in steadfast economic recovery. He emphasized that only by overcoming the pandemic and restoring full economic operation can America reclaim the jobs, growth, and prosperity lost in 2020. This demands judicious policy measures while rejecting misguided proposals.
Donohue extended welcome to President Biden and Vice President Harris, forecasting the dawn of a prolonged economic resurgence. With congressional support, he projected potential third-quarter economic rebound this year.
Infrastructure: An Immediate Strategic Priority
The Chamber has elevated infrastructure modernization as its 2021 flagship initiative. Donohue noted with palpable frustration that after two decades of deliberation, funding solutions must now materialize into immediate action—with no further excuses.
He endorsed the Biden administration's proposed $1-2 trillion infrastructure plan as the premier method to boost productivity, generate employment, and elevate incomes. Legislators were urged to pass a fiscally and environmentally responsible package prioritizing urgent roadway repairs, critical network modernization, and broadband expansion.
Remarkably, Donohue expressed confidence in bipartisan passage despite congressional parity, potentially establishing cooperative momentum for other priorities.
The Chamber's Infrastructure Blueprint
The Chamber's advocacy traces back to the George W. Bush administration, consistently proposing incremental federal gas tax increases—5 cents annually over five years—to replenish the Highway Trust Fund. Their comprehensive plan includes:
- Holistic Modernization: Long-term legislation addressing surface transportation alongside aviation, maritime, rural broadband, energy, and water systems.
- Diversified Financing: Supplemental funding through public-private partnerships, user fees, and revolving loan programs.
- Streamlined Approvals: Accelerated federal permitting via concurrent reviews and decision deadlines, mirrored at state/local levels.
- Regulatory Restraint: Opposition to renewed transportation industry regulations.
Workforce Shortages: The Emerging Constraint
The Chamber highlighted acute labor deficits across infrastructure sectors, urging regulatory reforms and skills training to ensure equitable benefits nationwide. Donohue cited the paradoxical "jobs without workers, workers without jobs" dilemma—particularly in construction, transportation, healthcare, and professional services. Trucking alone faces a 60,000-driver shortage.
Optimal Timing for Investment
With benchmark interest rates near zero, financing conditions have rarely been more favorable. However, the American Road & Transportation Builders Association (ARTBA) forecasts a 5.5% contraction in 2021 transportation construction—descending from $294.2 billion to $278.1 billion—due to pandemic-induced recession.
ARTBA's Alison Black noted that while Pennsylvania and Washington temporarily halted projects last spring, most states classified transportation construction as essential. The broader economic recovery and potential FAST Act reauthorization will significantly influence future activity. Since 2010, this federal program has funded over 50% of state highway projects and 66% of transit capital expenditures.
American Trucking Associations' Bob Costello observed uneven 2020 freight performance—some sectors grew while others plummeted. With vaccination progress, 2021 trucking activity should stabilize robustly despite modest structural shifts.
Cybersecurity: The Foundational Imperative
Donohue stressed that economic competitiveness requires impregnable national security and resilient supply chains—particularly cybersecurity. Recent sophisticated foreign cyber intrusions against U.S. institutions, he warned, pose escalating threats to economic stability and critical infrastructure.
The Path Forward
The Chamber's directive is unambiguous: fortify virtual infrastructure while rebuilding physical foundations. This dual approach represents not merely crisis response, but America's blueprint for enduring economic leadership. For businesses, this transformation presents unprecedented opportunity—contingent upon strategic engagement.