On Saturday afternoon, the House of Representatives passed a $1 trillion infrastructure bill. According to a White House press release, the current administration will now oversee the most sizable upgrade to the nation’s railways, roads, and transportation infrastructure in more than a generation.
The bill includes funding for $39 billion in funding for public transit, $7.5 billion for electric vehicle infrastructure, such as charging stations, $17 billion in port infrastructure, $25 billion in airport infrastructure, $110 billion to repair America’s aging bridges, highways, and roads, and $66 billion to improve passenger and freight rail, among other spending priorities.
Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), issued the following statement in response to the bill's passage:
“American steel built this country, and the industry is now ready to get to work on rebuilding this country. Repairing and modernizing our national transportation system is essential and we are glad Congress agrees. This bill would ensure that our infrastructure system meets the needs of the 21st century. Funding roads and bridges, ports and waterways, water infrastructure, the electric grid and investing in electric vehicle systems, all will require a lot of steel —and our industry is ready to provide that steel. Passing this bill today provides a tremendous boost to our industry, as demand for American steel could increase by as much as five million tons for every $100 billion of new investment.
“This bill will also make sure that taxpayer funds are used to procure cleaner steel produced in the United States, where it is made with a lower carbon and energy intensity than steel made in the other leading steel-producing countries. We are thrilled that, in the end, Congress was able to take this important step toward funding our nation’s infrastructure needs. We look forward to President Biden signing the bill into law very soon.”