The Washington, DC-based Steel Manufacturers Association (SMA) announced Monday that it supports the recently introduced Infrastructure and Energy Independence Act, H.R. 1861, and encourages Congressional leaders to support and pass the legislations.
H.R. 1861 was developed by the bipartisan House Energy Working Group, and is designed to secure the US' energy future, put Americans back to work and to fund desperately needed infrastructure projects, without raising taxes or adding to the national debt. The bill would also allow the responsible expansion of offshore oil and gas exploration.
A large portion of the $2.2-$3.7 trillion in new federal revenues from offshore energy production would be used to create jobs, cut the deficit, invest in clean coal and nuclear technology, fund environmental improvement projects, increase renewable and alternative energy sources, and repair and rebuild the US' crumbling infrastructure. The legislation estimates that the plan would create 1.2 million new jobs annually, and provide $8 trillion in economic output without raising taxes.
Tom Danjcek, President of SMA, said, "We very much appreciate the efforts and leadership of the bipartisan House Energy Working Group. While SMA's members are the most energy efficient steelmakers in the world, using a feedstock of almost entirely recycled steel scrap to make new steel, steel production remains an energy-intensive process. The US must engage in a concerted drive for greater energy independence, responsibly pursuing all available resources."