SMA Comments on House Passage of the INVEST in America Act

Washington, DC –  In a statement released today, Steel Manufacturers Association (SMA) president, Philip K. Bell, said, “we are pleased to see the House passage of the $715 billion INVEST in America Act. The surface transportation reauthorization and water infrastructure bill will help pave the way for more resilient infrastructure, safer bridges, better roads, cleaner water, and good-paying American jobs.”

The bill calls for $343 billion for roads and bridges and $168 billion for drinking and wastewater infrastructure and assistance. Citi Research estimates that $1 trillion of traditional infrastructure investment could generate 6 million tons of incremental steel demand over the next 5 years.

Bell added, “we hope this legislation can be used to help in the negotiations as the Senate continues to work on its bipartisan compromise proposal. Our nation needs a comprehensive, long-term, well-funded infrastructure investment program to truly ‘Build Back Better.’ We support the bill’s focus on steel-intensive, traditional projects that are important to our safety, productivity, and economic competitiveness. The members of the SMA are ready to provide the high-quality, low-carbon, next-generation steel products needed to fuel future economic growth. We thank Chairman DeFazio for his leadership on this bill.”