Voters Approve $122 Billion in Infrastructure Funding
On Election Day, the American public voted overwhelmingly in support of investing in the future of the country. Voters in 25 states expressed strong support for infrastructure investment by approving about $122 billion in bonds and tax increases for public works projects. Most ballot initiatives addressed transportation and school funding; however many states and localities approved initiatives for improving water infrastructure and other building infrastructure, including libraries, hospitals, and parks.
More than 80% of the bond referendums passed, signaling the American public's support to incur debt for increased infrastructure investment despite the recent economic woes. The results were the second-largest amount ever approved in a single election day.
That's a lot of borrowing and debt!