Thursday, January 29, 2009

Jerry Costello on the Stimulus

Rep. Costello sent out the following regarding his approval of a particular provision of the stimulus package.


Washington – Congressman Jerry Costello (D-IL) today applauded the House Appropriations Committee’s approval of a “Buy America” provision for the use of U.S. steel as part of the economic stimulus legislation. The economic downturn has hurt the domestic steel industry, resulting in production declines and worker layoffs. In the Metro East, Granite City Steel has been idled and Alton Steel has also laid-off workers.

Costello has been a vocal supporter of this provision and previously urged Speaker Nancy Pelosi and Minority Leader John Boehner to include the use of U.S. steel for infrastructure projects in the stimulus legislation.
“At a time when our economy is stalled, using American steel to build our infrastructure is the right thing to do and will energize our manufacturing sector and maintain and create jobs in the steel industry,” said Costello.

Costello has been very active on issues affecting the domestic steel industry, including supporting steel tariffs earlier this decade and testifying before the International Trade Commission.

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Apparently Costello doesn't mind raising costs to taxpayers. The "buy American" provision means higher costs and reduced effects of government spending. Domestic steel will likely cost more, and that means less money to spend on other projects. Still worse, "buy American" regulation will encourage other countries to retaliate, meaning that American exporters will suffer. There are better ways to focus the stimulus package on goods and services that are made in the United States.
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