Inefficiencies arising from underinvestment in the United States' aging infrastructure could end up costing every American family an average of $3,400 each year over the next decade, according to a report by the American Society of Civil Engineers (ASCE).

The area with the greatest need is surface transportation, with needs totaling more than $2 trillion and an investment gap of $1.1 trillion.Between now and 2025, investment needs across 10 infrastructure areas total $3.3 trillion, according to the report, "Failure to Act: Closing the Infrastructure Investment Gap for America's Economic Future." However, planned investment into infrastructure is $1.8 trillion, leaving a $1.5 trillion investment gap. The report projects that that investment gap will grow to $5.1 trillion by 2040 if investment rates continue on their current path.

The report identifies the investment gap by sector: surface transportation, water and wastewater, electricity, airports and inland waterways/marine and ports infrastructure. The area with the greatest need is surface transportation, with needs totaling more than $2 trillion and an investment gap of $1.1 trillion.

"If we want our economy to thrive, then we need to invest in its backbone. Instead we've allowed it to live on borrowed time and are paying the price of its inefficiencies every day," says Greg DiLoreto, past president and current chair of ASCE's Committee for America's Infrastructure. "The continued underinvestment into our transportation, energy and water systems is hurting families and businesses. While there has been some recent legislative success, it unfortunately has not been nearly enough to modernize our aging infrastructure."