Economy
August 10, 2021
Senate Passes Infrastructure Bill that's Promising for Steel
Written by Tim Triplett
The Senate passed a sweeping infrastructure bill on Tuesday – the Infrastructure Investment and Jobs Act – that calls for a nearly $1 trillion federal investment in roads, bridges, rail, the electrical grid and broadband. Steel is chief among the industries that stand to benefit from this new spending over the next decade if the measure can muster similar support in the House.
Reacting to the vote, Steel Manufacturers Association (SMA) President Philip Bell called the bipartisan passage of the infrastructure bill “monumental.” It passed with a vote of 69-30, including 19 Republicans joining all 50 members of the Democratic caucus.
