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May 18, 2020

MSCI Members Encouraged To Voice Support For More Federal Infrastructure Spending

The coronavirus pandemic has had a significant impact on state and local budgets. Mayors and governors are petitioning Congress to include more funding for their jurisdictions because the situation potentially is dire.

State departments of transportation (DOTs), for example, expect a 30 percent loss in state transportation revenues over the next 18 months, amounting to about $50 billion. (State transportation revenues had totaled roughly $111 billion in 2019.)

These losses could result in shelving construction projects and the reduction of future projects—all of which will have a deep impact on the industrial metals industry.

To help industry employees voice their support for increased federal infrastructure spending, a coalition of steel industry groups has created a portal that allows individual employees and industry leaders to write to President Donald Trump and members of Congress asking them to invest in infrastructure, which will create millions of good-paying jobs and provide a major boost to the economy. Click here to send a letter.