One of this country's most important challenges in the coming decades will be replacing aging drinking water and wastewater infrastructure. This replacement is essential if we are able to continue to provide water services to all who need them. The needed investment has been studied extensively. There have been many estimates as to the size of the investment, ranging from a low half a trillion dollars to a high of almost a trillion dollars. According to the EPA, one solution to the spending gap would be rate increases of roughly 3% per year over a 20-year period, which would provide sufficient additional revenue to address infrastructure needs. Gradually implementing full cost of service rates would provide not only the needed revenue for necessary investments, but it also would also provide a more accurate reflection of the true cost of water.
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