Texas shows need for infrastructure spending has 'never been greater'

Extreme weather that's plunged much of the U.S. into the deep freeze — and put Texas failing energy infrastructure in the spotlight — underscores the dire need for federal infrastructure spending, the top executive of an professional services firm told Yahoo Finance.

On Saturday, President Joe Biden declared a state of emergency in the Lone Star State after millions were left without water and electricity amid frigid temperatures. The crisis has prompted an "urgent need" for funding into America's infrastructure that's been a long time coming, according to Jacobs (J) CEO Steven J. Demetriou.

"Over the last 10 years, both sides of the aisle have been talking about the urgent need for infrastructure," said Demetriou, whose company is headquartered in Dallas Texas.

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