President Joe Biden signed the Infrastructure Investment and Jobs Act into law on 15 November 2021, releasing $1.2 trillion for American infrastructure over eight years, including $550 billion in new spending above existing levels. The package provides $110 billion for roads and bridges, funding for rail, ports, waterways, airports, public transit, broadband and the power grid. It was the largest federal construction measure in decades and the first major infrastructure law since the 1950s highway programme. For the steel industry, the bill promised years of demand for structural steel, rebar, plate and pipe, and it strengthened Buy America rules, requiring iron and steel used in federally funded projects to be produced in the United States. Steelmakers and fabricators welcomed the law, although analysts noted the money would flow slowly, with projects taking years to design and build. The bill passed the Senate in August and the House on 5 November by 228 votes to 206.
Source: Engineering News-Record — https://www.enr.com/articles/53002-biden-signs-landmark-1t-infrastructure-package
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