On Nov.15, 2021, President Biden signed the historic Infrastructure Investment and Jobs Act (IIJA). With the bill, the Biden administration allocated $1.20 trillion toward fixing the country’s creaking infrastructure. The act put billions of dollars toward constructing roads, bridges, railroads, airports, and ports. The package also seeks to expand broadband availability, improve water systems, and replace lead pipes.
According to a memo released by the White House, the Biden administration has directed federal agencies to make sure that the construction projects being funded under the IIJA use domestically manufactured products, such as iron and steel. Starting May 14, 2022, all manufacturing processes for the metals, from the initial melting stage to the application of the coating, must happen in the United States. This is expected to be highly beneficial for U.S.-based steel manufacturers because most projects under the IIJA would require high usage of iron and steel.
