July 20, 2020

MSCI Calls For “Robust Infrastructure Investments”

The Metals Service Center Institute (MSCI) joined the National Association of Manufacturers, the Steel Manufacturers Association, the Aluminum Association, the American Iron and Steel Institute, and dozens of other organizations in sending a letter to U.S. House and Senate lawmakers requesting new federal investments in infrastructure.

The letter, which is available here, argued, “Even before the [coronavirus] crisis, America desperately needed robust infrastructure investments. Now, building a 21st-century infrastructure system will not only provide urgently needed jobs but also lay the foundation for a more competitive economy.” It noted, “Congressional action is necessary to address the revenue shortfalls facing state transportation departments due to unexpected decreases in road travel” and “Forward-looking, long-term investments in all kinds of infrastructure are needed to renew and expand our economy, grow jobs and compete globally.”

The current authorizing bill for federal transit programs expires on September 30, 2020. If Congress does not act before then, funding for these programs is in jeopardy.

At MSCI’s Annual Meeting last month, Eddie Lehner, president and CEO of Ryerson and MSCI’s board of directors chair, provided an overview of North American infrastructure investment opportunities in his remarks. Click here for a brief overview of his comments.