Channel: CNBC

Category: News & Politics

Tags: business newscnbcmoney tipspresident joe bidennews stationstock marketbridgescable newsstocksworld newsfinance stockfinancial newsbuild back americanews channelmoneyfinance newsinfrastructurebuildingsus newsconstructioncablestock market newsbreaking news

Description: America’s bridges are in rough shape. More than a third of the nation’s bridges are in need of repair and over 43,000 are in poor condition and classified as “structurally deficient”. A structurally deficient bridge is one that requires significant maintenance to remain in service. It is often posted with weight limits but is considered safe to use. Hours ahead of President Biden’s scheduled visit to Pittsburgh in January 2022 to discuss infrastructure, one of the city’s more than 440 bridges collapsed. Ten people were injured including first responders. Another bridge collapsed in Washington State in 2013 and Minneapolis in 2007. And while most of the country’s bridges were designed for a service life of about 50 years the average age of bridges in the U.S. is 44-years. So why are so many of the nation’s bridges in a state of disrepair and what steps are being taken to fix them? While most of the country’s structures were designed for a service life of about 50 years, the average age of bridges in the U.S. is 44 years. Older bridges with fewer lanes and restricted access can add to congestion impacting commerce and the response time of emergency services. But after innovations in bridge building, new building materials and additional funding, there are signs of some modest improvement for the nation’s bridge inventory. In January, Biden announced his administration would distribute $27 billion over the next five years to fix or rebuild thousands of the nation’s bridges. The current estimate to repair all bridges in the U.S. is $125 billion, according to the American Society of Civil Engineers. Watch the video to learn more. 00:00 - Intro 02:23 - Ch 1. Building bridges is costly 05:45 - Ch 2. Privately owned bridges 08:40 - Ch. 3 - The George Washington Bridge » Subscribe to CNBC: cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: cnbc.com Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: cnb.cx/LikeCNBC Follow CNBC News on Twitter: cnb.cx/FollowCNBC Follow CNBC News on Instagram: cnb.cx/InstagramCNBC #CNBC Why U.S. Bridges Are In Such Bad Shape