Today, President Obama announced a new ‘Build America Investment Initiative’ to encourage private-sector investment in the nation’s public infrastructure, including a ‘Build America Transportation Investment Center’ at the Department of Transportation to spur federal projects. In September, the Treasury Department will also host an Infrastructure Investment Summit.
The president’s announcement comes amidst growing concern over the failing condition of many of the nation’s bridges, roads, and other critical infrastructure.
Alliance for American Manufacturing (AAM) President Scott Paul commented on the president’s effort to move forward on infrastructure upgrades and repairs:
“Public-private financing can play big a part in rebuilding America, but it should not come at a cost of outsourcing manufacturing jobs. We've built almost all of America's highways and bridges with American-made steel. This initiative should be no different. We can create American jobs through time-tested Buy America laws. Let's put America to work.”
Read more about Buy America preferences.