AISI Welcomes U.S. Infrastructure Bill

The American Iron and Steel Institute welcomed President Joe Biden's signing of the Infrastructure and Jobs Investment Act on November 15, as the law, which includes provisions for American purchases, is expected to support domestic demand for steel.

The $ 1.2 trillion bipartisan package, signed by Biden at a ceremony at the White House on November 15, is the largest U.S. infrastructure investment since the 1956 Federal Highways Act.

“This day is long awaited not only for those working in the steel industry, but for all Americans,” said Kevin Dempsey, CEO of the American Iron and Steel Institute, in a statement. “…. We welcome the fact that the new law and executive order for its implementation places great emphasis on improving the competitiveness of the United States and the use of American-made products, including through the use of American-made steel, which is cleaner and more environmentally friendly than steel produced in the United States. ... other leading steel producing countries ”.

Ahead of the signing of the bill on November 14, the White House said that former New Orleans mayor Mitch Landrieu would serve as the senior advisor responsible for coordinating the bill's implementation. On November 15, the White House announced the creation of an Infrastructure Implementation Task Force, co-chaired by Landrieu and National Economic Council Director Brian Dees, to coordinate the implementation of the law across government.

Among the six implementation priorities outlined by the Biden administration, Buy American came in second, and the White House sought to improve the competitiveness of the US economy, including by meeting the requirements of the Made in America bill and strengthening domestic manufacturing and manufacturing supply chains. ...

According to the legislation, steel-intensive funding includes $ 110 billion for roads, bridges and large projects, $ 66 billion for passenger and freight railways, $ 39 billion for public transport, and $ 7.5 billion for electric vehicles.

For every $ 100 billion in new infrastructure investment, AISI estimates it could increase domestic steel demand by as much as £ 5 million.