On Wednesday, the US Senate approved a two-year $109 billion that will allow for federal funding for transportation projects nationwide. The legislation will also help streamline the approval process for future infrastructure projects as well. Revenues from a federal gasoline tax will pay for the majority of the bill.
The American Iron and Steel Institute (AISI) lauded passage of the bill, and urged the House of Representatives to pass the legislation next week. Thomas Gibson, AISI's president and CEO, commended passage of the bill and noted that, "According to the Department of Transportation, every one billion dollars federally invested in highway capital supports nearly 35,000 jobs."