Infrastructure Ought to Be Part of COVID-19 Relief, Steel Groups Say
04/01/2020 - Five U.S. steel trade organizations have urged Congress to provide for public infrastructure investments in the next phase of COVID-19 economic stimulus.
“American businesses will not likely feel the full economic impact of COVID-19 until later this year, as social distancing and shelter-in-place measures undoubtedly save lives but continue to slow economic activity in the manufacturing and construction sectors. Making a long-term and robust infrastructure investment now will not only respond to the urgent transportation system needs that are well known, but it also will create high-paying jobs allowing businesses and families to recover from this extremely difficult economic shock,” the groups wrote in the letter to Congressional leaders.
Signing the letter were the American Institute of Steel Construction, the American Iron and Steel Institute, the Steel Manufacturers Association, The Committee on Pipe and Tube Imports, and the Specialty Steel Industry of North America.
The letter follows President Donald Trump’s call for US$2 trillion in infrastructure spending. Trump discussed the idea during a pandemic briefing on Tuesday, saying now is the time because of the low interest rates, the Bloomberg news service reported.