With no balance-sheet penalty for putting off infrastructure repairs, cities often delay making improvements
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- A new study offers a glimpse of the magnitude of the repairs local governments will need to address in coming years.
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U.S. cities are facing huge liabilities that remain invisible on their books: dilapidated roads, bridges and buildings.
A new study aims to put a dollar figure on the total wear and tear on the country’s urban infrastructure, and arrives at $1.03 trillion. That is not necessarily what it would cost to bring the infrastructure up to date, but it offers a snapshot of the magnitude of the repairs local governments will need to address in coming years.
The costs are hypothetical for now but could someday hit cities’ bottom lines. About a decade ago, for instance, new rules made cities account for their long-term pension obligations. Afterward, taxes rose, services were cut and municipal bond prices fell for many cities.
The Wall Street Journal
By Heather Gillers
May 5, 2026 5:00 am ET