The bipartisan infrastructure bill contains $550 billion in new spending. “The $1.2 trillion figure comes from funding normally allocated each year for highways and other infrastructure projects,” wrote John Probasco for Investopedia. “Following passage, the proposed legislation was sent to the House of Representatives where further adjustments are expected. Should the bill pass, the House and Senate will need to consolidate their respective versions for a final bill to go to President Biden for his signature.” Tom Conway, president of United Steelworkers, the largest industrial union in North America, told Bloomberg he’s concerned that the supply crunch means the industry — and contractors — will have to source materials abroad, benefiting other countries with employment gains, instead of the United States.
https://www.constructionequipmentguide.com/industry-awaits-its-trillion-dollars/53618