MSCI, Industrial Metals Coalition Call For Infrastructure Investment
The Metals Service Center Institute (MSCI) continues to advocate for major infrastructure investments in the United States and Canada.
In addition to our www.build-now.org microsite, last week the organization sent a letter to leaders on Capitol Hill asking lawmakers to “come together with the Biden administration to support a metals-intensive infrastructure spending bill that makes historic investments, maintains a competitive tax structure, and reforms the federal regulatory regime to expedite building.” The Aluminum Association, American Iron and Steel Institute, American Wire Producers Association, Fabricators and Manufacturers Association International, Forging Industry Association, and Steel Manufacturers Association joined us on this letter, which is available here and which S&P Global Platts featured in their recent news coverage.
Fortunately, it appears that lawmakers in the United States are closer to our goal. After negotiations between the White House and Sen. Shelley Moore Capito (R-W.Va.) broke down early last week, a bipartisan group of lawmakers reportedly struck an infrastructure deal.
According to Reuters, the bill would include more than $1 trillion in new spending and would not raise taxes. The group of lawmakers, which includes five Republicans and five Democrats, said they were reaching out to fellow senators and to President Joe Biden before they release their full outline. The package would cost $974 billion over five years, and $1.2 trillion over eight. No other details are yet available.
According to The Hill, some Democrats reportedly are wary of the effort, arguing that the deal does not include enough funding and should include tax increases. (Speaking of tax increases, MSCI’s partners at the S-Corp Association have the latest on those policy discussions here.)
To help advance an infrastructure spending package, the U.S. Chamber of Commerce has created state-specific template letters to tell Congress to work with their colleagues in both the House and Senate to finalize an infrastructure bill this summer. Click here to use these letters. The National Association of Manufacturers also offers advocacy tools here.
Wondering if any legislation could become law this year? In a new article, the law firm Venable offers four paths that a major infrastructure package could take through Congress in the coming months.