MSCI To Congress: Make Infrastructure A Priority In 2018
As part of the National Association of Manufacturers’ Infrastructure Working Group, last week the Metals Service Center Institute (MSCI) sent a letter to congressional leaders urging that they pass an infrastructure bill this year. The group argued, “Substantial and long-term investments in all kinds of infrastructure are needed to expand our economy, grow jobs, and compete globally.”
The letter was signed by more than 120 trade associations and was sent to Republicans and Democrats in both the House and Senate. The letter said an infrastructure package must:
- Increase direct federal investments in a broad range of infrastructure sectors by $1 trillion over 10 years;
- Complement and strengthen existing tools, such as municipal bonds;
- Facilitate opportunities for private investment in U.S. infrastructure;
- Accelerating the federal permitting process for infrastructure projects;
- Fix chronic challenges and address reoccurring shortages in key federal infrastructure accounts, including the Highway Trust Fund, and;
- Encourage active participation among all levels of government and between the public and private sectors.
At a meeting over the weekend with Republican congressional leaders, President Trump also asked that lawmakers make infrastructure a priority. According to USA Today, “The White House will release a proposal in mid to late January that will call for a wholesale change in the way the U.S. approaches big infrastructure projects.” The newspaper said the president’s plan “would move the country away from a ‘project-based’ system in which the federal government identifies infrastructure needs and gives money” and instead “delegate that role to states and private investors, who would also provide the bulk of the funding.”
Check out MSCI President and CEO Bob Weidner’s August 2017 Edge article to learn more about the urgency of infrastructure spending.