Jobs and economic growth at stake
For Immediate ReleaseJune 29, 2012
Washington, D.C. – The American Iron and Steel Institute (AISI) is urging both Chambers of Congress to pass the Conference Report to accompany H.R. 4348, Surface Transportation Extension Act of 2012.
“Assured funding for our nation’s transportation system cannot continue to remain in uncertainty,” AISI President and CEO Tom Gibson said. “States with bridges and roads in desperate need of repair are held back by the continuation of short-term extensions. The two-year authorization provided for in the conference report is critical to start addressing our nation’s urgent economic, transportation and safety needs and put many Americans back to work.”
“The state of our infrastructure has a direct impact on the strength of our nation’s economy. According to a recent McKinsey study, the U.S. ranks 23rd worldwide in infrastructure quality, which undermines our international competiveness, “Gibson said. “Our transportation system is the backbone of our nation’s business supply chain, supporting manufacturers throughout North America as they seek to compete with the rest of the world. The conference agreement provides for $120 billion in funding for transportation infrastructure projects over two fiscal years, and also contains provisions to streamline environmental reviews that will allow projects to move forward more quickly while saving the public money. It also includes important reforms to close a loophole that has been used in the past to evade Buy America requirements for Federal highway and bridge construction.”
According to a recent study by the American Society of Civil Engineers, infrastructure deficiencies add $97 billion a year to the cost of operating vehicles and result in travel delays that cost $32 billion. Plus, U.S. Department of Transportation (DOT) reports that every $1 billion invested in federal highways creates 35,000 new jobs.
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 25 member companies, including integrated and electric furnace steelmakers, and 124 associate and affiliate members who are suppliers to or customers of the steel industry. AISI's member companies represent over three quarters of both U.S. and North American steel capacity. For more news about steel and its applications, view AISI’s Web site at www.steel.org.
Contact: Nancy Gravatt202.452.7115 / email@example.com
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