Several trade associations representing the industrial metals sector submitted a letter to U.S. House and Senate lawmakers to persuade them to invest in metals-heavy infrastructure.
The letter stated, “We ask that both parties in Congress come together with the Biden administration to support a metals-intensive infrastructure spending bill that makes historic investments, maintains a competitive tax structure, and reforms the federal regulatory regime to expedite building.”
The letter reminded the lawmakers the American Society of Civil Engineers 2021 report card gave U.S. infrastructure a grade of C minus, and the report said that 42 percent of the country’s bridges are at least 50 years old , with 7.5 percent of bridges having structural deficiencies.
In addition, the letter informed lawmakers the U.S. industrial metals sector provides “more than 1.86 million good paying jobs to employees who spend almost $116 billion in total wages in your states,” and that “Our member companies produce, process, forge, fabricate, and ship industrial metals products around the world. You’ll find their products in factories, machinery, houses, pipelines and wind turbines, hospitals, airports, schools, and even in our nation’s fiber and broadband networks.”
The letter notes, the Business Roundtable estimates that “every $1 in new infrastructure investment will create $3.82 in economic growth over 20 years and add about a dollar and half to the average hourly U.S. wage.”
The letter also called for the following legislative actions:
· Prioritize Core Infrastructure. To invest in building physical infrastructure that American businesses and families use daily, such as bridges, airports, water, wastewater treatment facilities and a modern electricity grid.
· Ensure We Can Build Now. A White House-led, interagency task force should recommend reforms that expedite approvals for this infrastructure.