Obama’s “myRA” Memorandum and the Steel Industry

A recent visit by President Obama to a steel manufacturing plant in Pittsburgh, PA, outlined some of the challenges and goals the industry faces in the coming years. During the president’s State of the Union address, he discussed the return of jobs to the country, particularly those in the manufacturing sector. While this is good for members of the steel industry, some smaller businesses are still continuing to struggle.

During the president’s visit to the steel plant, he took the opportunity to sign his “myRA” memorandum. This new program aims to help workers save better for their retirement and ensure they have the funds they need to continue to live a health and fulfilling life after they are done working. However, some of the local steel plants in the area continue to face other problems. For example, some businesses have faced new tax assessments that continue to cut into profits.

While economic challenges continue to hold some companies back, the steel industry continues to thrive across the country. With jobs returning from overseas and new initiatives in place to help both workers and business owners, there is hope on the horizon. The president’s visit to local steel factories illustrates the continued importance of this industry, and it shows no signs of slowing down.

Make sure you keep checking back with us for more updates about steel manufacturing and how politics, economics, and other factors continue to shape the industry. For all of your steel needs get in touch with the team at Florida Pipe & Steel today!

Source: http://www.sfgate.com/news/article/Obama-Pa-visit-highlights-changed-steel-industry-5184995.php


Written by Katapult Marketing

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