Steel Groups React Favorably to Inflation Reduction Act

Domestic steel groups are supportive of some portions of the recently passed Inflation Reduction Act. The bill is meant not only to make a down payment on deficit reduction to fight inflation but to also invest in domestic energy production and manufacturing. It in addition aims to reduce carbon emissions by 40% by 2030, allow for lower Medicare prescription drug prices, and expand the Affordable Care Act for another three years.

The White House The Steel Manufacturers Association (SMA) applauded parts of the Act, including the creation of a new office within the Department of Energy to help the country move toward a zero-emissions future.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

Laura Miller

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