Infrastructure spending promises boom for construction companies
WASHINGTON - Plans to pump nearly $1trillion into rebuilding the nation’s roads, bridges and other infrastructure could give companies with ties to the construction industry a solid foundation for growth.
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Companies such as Caterpillar, with its heavy machinery, and construction materials company Vulcan Materials could see years of additional business as roads and bridges are rebuilt and buildings are modernized.
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The benefits could be even broader, impacting Sherwin-Williams, United Rentals and others.
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President Joe Biden announced Thursday that a bipartisan agreement had been reached on a $973 billion infrastructure plan.
The pared-down plan calls for $559 billion in new spending over five years.