US infrastructure bill to provide a 'tremendous boost' to American steel industry

The long-awaited $1.2 trillion investment plan was finally signed by President Joe Biden on November 15 after Congress passed the package following months of negotiations. The Infrastructure Investment and Jobs Act, which was defined as a 'once-in-a-generation investment' in the nation’s infrastructure and competitiveness, will 'rebuild America’s roads, bridges, and rails, expand access to clean drinking water, ensure every American has access to high-speed internet' - these and others are the aims that the gigantic project intends to pursue.
The bill includes $110 billion in new funds for roads, bridges, and major projects. It's the largest federal investment in public transport in US history: 24,000 buses, 5,000 rail cars, and thousands of miles of tracks, signals, and power systems need to be replaced. The bill will also eliminate and replace all lead pipes present in American households.
'Passing this bill,' commented Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), '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.'
The US Steel Manufacturers Association also applauded the passage of the IIJA, 'because it focuses on steel-intensive, traditional infrastructure. Every $100 billion of investment,' said Philip K. Bell, president of SMA, 'can incrementally increase steel demand by four to six million tons.'
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