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Major US domestic steel industry groups strongly reiterated their support for significant funding for state departments of transportation and called on congressional leadership to support this funding in the next phase of the COVID-19 stimulus legislation. Members of The American Institute of Steel Construction, American Iron and Steel Institute, Steel Manufacturers Association, The Committee on Pipe and Tube Imports and Specialty Steel Industry of North America (sent a letter to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Charles Schumer (D-NY) urging the Senate to pass a broad infrastructure package to kickstart the economy.
The groups wrote “As a result of economic hardships in states across the country, DOTs have been forced to delay or cancel key infrastructure projects because of revenue shortfalls and the impact of COVID-19. To ensure that these projects can proceed and create demand for essential [steel] products and support good wage jobs used in the transportation sector, the steel industry requests Congress includes at least $37 billion for state DOTs in the future relief bill that will be considered by Congress this month. Ensuring that state DOTs has appropriate funding to carry out essential projects is an important first step in our nation’s economic recovery.”
The groups not that the American Association of State Highway Transportation Officials estimates that state DOTs will average at least a 30 percent loss in state transportation revenues in the next 18 months. This causes delays or cancellation of key infrastructure projects, resulting in decreased demand for steel products.