The Senate approved a sweeping $1 trillion infrastructure package after weeks of negotiations on August 10, by a vote of 69-30 with 19 Republicans joining all Democrats.
The package provides much-needed new federal investments in a wide range of infrastructure projects. These investments will help generate new demand for construction equipment and materials that metalcasters can supply.
AFS advocated for several provisions contained in the final bill, including expediting the federal permitting process for construction projects.
The following is a breakdown of the new investments of interest to metalcasters:
The new spending bill is paid for through a host of sources, including repurposed COVID-relief funding and extending or reinstating a host of other governmental fees. Unfortunately, the final package reinstates Superfund excise taxes on 42 chemicals, minerals, and metallic elements, which will increase costs for U.S. manufacturers and consumer goods.
The Senate-passed bill now goes to the House, where Democratic leaders have indicated that action on the bill will be delayed unless the Senate passes the much larger budget reconciliation spending and tax bill. That debate is expected to extend into the fall.
AFS is urging the House to quickly pass the bipartisan infrastructure bill and send it to the President for signature.