NEW YORK The White House
has unveiled a new infrastructure plan to upgrade the
nations roads, bridges and ports, helping U.S. businesses
become more competitive globally.
The plan includes a number of
investments that could mean a pickup in steel demand. Last
July, President Barack Obama signed into law a $100-billion
transportation bill that would provide funding through fiscal
amm.com, July 9), but many market participants
said the legislation has not translated into increased
"Im encouraged by the
Presidents comments about the need to reduce red tape and
streamline project delivery, including working to implement
provisions ... that can cut the time to build a highway project
in half," U.S. Rep. Bill Shuster (R., Pa.), chairman of the
House Transportation and Infrastructure Committee, said in a
statement. "We need to find additional opportunities to move
projects ahead faster in all modes of transportation to save
time and money."
The new infrastructure plan was
among a number of topics mentioned in Obamas State of the
Union address (
amm.com, Feb. 13).
Highlights of the plan
Investing $50 billion in
frontloaded transportation infrastructure projects, in
particular directing $40 billion toward reducing a backlog of
deferred maintenance on highways, bridges, transit systems and
investment through the "Rebuild America Partnership," a network
that will enhance the role of private capital in U.S.
infrastructure investment to supplement the traditional roles
of federal, state and local governments.
Creating a national
infrastructure bank that will leverage public and private
capital to support infrastructure projects of national and
Cutting red tape to
reduce timelines in half for infrastructure projects and create
incentives for better outcomes for communities and the
environment through the modernization of agency permitting and
review regulations, procedures and policies.