Steel Modernization: $10 Billion for Green Technology, High Wages, and Import Tariffs.
This Act authorizes $10 billion to modernize domestic iron and steel facilities, focusing on creating high-quality jobs and significantly reducing pollution in industrial areas. It establishes new tariffs on imported steel produced with high emissions to protect US manufacturers and promote cleaner production globally. These measures aim to revitalize industrial regions and improve air quality.
Key points
High Labor Standards: Funded construction projects must adhere to prevailing wage requirements and utilize Project Labor Agreements for large contracts, ensuring stable and well-paid employment.
Tariffs on "Dirty" Steel: Imposes additional tariffs on imported steel and finished goods based on their high greenhouse gas emissions intensity compared to US domestic production standards.
Community Benefits: Large projects require legally binding Community Benefits Agreements, giving local residents, especially in pollution-affected areas, a formal voice on environmental and health outcomes.
Clean Energy Incentives: The Act introduces tax credits for domestic producers of near-zero emissions iron and investment credits for building on-site zero-emission energy sources at steel facilities.
Expired
Citizen Poll