Steel Modernization Act of 2024

Hozzl · 2024-12-19T09:06:24Z

Explore the details of House Bill 9334 Steel Modernization Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/19/2024, 9:06 AM

Summary of Bill HR 9334

Bill 118 hr 9334, also known as the Steel Modernization Act of 2024, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide support and incentives for the modernization and improvement of the steel industry in the United States.

The bill includes provisions for funding research and development in new steel technologies, as well as grants and loans for steel manufacturers to upgrade their facilities and equipment. It also aims to promote the use of domestically produced steel in infrastructure projects and other government contracts.

Additionally, the Steel Modernization Act of 2024 includes measures to address environmental concerns related to the steel industry, such as reducing carbon emissions and promoting sustainable practices. Overall, this bill is designed to help the US steel industry remain competitive in the global market, while also promoting innovation and sustainability. It is currently being debated in Congress, with supporters arguing that it will create jobs and boost the economy, while critics raise concerns about the potential cost and impact on other industries.

Current Status of Bill HR 9334

Bill HR 9334 is currently in the status of Bill Introduced since August 9, 2024. Bill HR 9334 was introduced during Congress 118 and was introduced to the House on August 9, 2024. Bill HR 9334's most recent activity was Referred to the Subcommittee on Trade. as of December 17, 2024

Bipartisan Support of Bill HR 9334

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 9334

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 9334

To strengthen domestic manufacturing, bring next generation iron and steel back to the United States, and revitalize deindustrialized regions.To strengthen domestic manufacturing, bring next generation iron and steel back to the United States, and revitalize deindustrialized regions.

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