The act, signed into law on Tuesday, aims to invest in domestic energy production and manufacturing and reduce carbon emissions by roughly 40% by 2030. Among the portions the Steel Manufacturers applauded is a provision for a new office within the Department of Energy to help move toward a zero emissions future.

“The true impact of this bill will have to be measured over time, as it will impact individuals, companies, and industries in different ways. But we know this for sure, America’s electric arc furnace steelmakers, who today produce the highest quality steel with the lowest emissions found anywhere in the world, look forward to partnering with the Department of Energy’s new Office of Clean Energy Demonstrations to further decrease our already historically low emission rates,” said SMA president Philip K. Bell.  

“By working together, we will not only supercharge the fight against climate change today, but we will create a new model for low-carbon steel that will lead the global steel industry into the future,” he added.