AISI Welcomes Biden Announcement of Infrastructure Proposal

WASHINGTON, D.C. – Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), issued the following statement in response to President Biden’s announcement today in Pittsburgh on “The American Jobs Plan” which, among other things, proposes significant new funding for infrastructure investment:

“AISI greatly appreciates President Biden’s commitment to building back better America’s roads, bridges, waterways, rail, electrical grid and other critical infrastructure – and doing it with American made steel. American steel production is the cleanest in the world, and the industry is essential to providing sustainable infrastructure solutions and good-paying jobs. Each one billion dollars in infrastructure spending requires about 50,000 net tons of steel, and each trillion dollars invested in infrastructure has the potential to create 11 million jobs in our economy over the next decade. We are pleased that today’s proposal continues strong domestic procurement preferences for federally funded infrastructure projects which are essential to ensuring taxpayer dollars are used to purchase American steel and other made-in-America products.

“In terms of funding, AISI’s view is that the best way to fund infrastructure is through a dedicated user fee rather than through the corporate income tax, revenues from which go to the general treasury. AISI has long advocated for bolstering the user fees that are dedicated to funding the Highway Trust Fund and other infrastructure funding mechanisms. This is important to provide the needed certainty in terms of funding for states to implement long-term steel-intensive infrastructure projects. While this is not currently part of the president’s  proposal, we look forward to continuing to work with the administration and Congress to develop a bipartisan legislative package that supports long-term, sustainable funding and ensures that steel that is melted and poured in the U.S. is used to rebuild America’s roads, bridges, water systems and energy infrastructure.”

####

Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

AISI serves as the voice of the 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’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook or Twitter (@AISISteel).