INVEST in America Act to Boost Domestic Steel Demand

SEATTLE (Scrap Monster): The American steel industry and the United Steelworkers (USW) Union applauded passage of the INVEST in America Act, which targets a series of infrastructure projects in the country, which in turn is expected to boost the demand for steel products.

The $715 billion infrastructure bill calls for investments of $343 billion for roads and bridges, $109 billion for transit, $95 billion for passenger and freight rail, $117 billion for drinking water, and $51.25 billion for wastewater infrastructure.

ALSO READ:

McConnell Wants to Shrink Biden's Infrastruture Plan by Two-Thirds

U.S. Steel Industry to Benefit from Infrastruture Investment Push

Commenting on the bill, United Steelworkers International President Tom Conway said that it considers the passage of the bill as a major step toward repairing the nation’s critical infrastructure, by creating millions of good jobs. All of the American workers, including 85,000 union members, will reap full benefit of the bill. Furthermore, the increased spending on infrastructure will revitalize American communities and reinvigorates the country’s economy, he added.

Meantime, Kevin Dempsey, President and CEO, the American Iron and Steel Institute (AISI) said that the provisions of the bill will ensure increased use of American-made steel in various infrastructure projects. The clean American steel will be used to build back America, Dempsey added.