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In addition, President Biden has floated a $3.50 trillion budget resolution bill proposal that focuses on social and environmental factors, including hefty investments in the clean energy space, which was previously cut from the infrastructure package. Senate Majority Leader Chuck Schumer expects this budget blueprint to “allow us to pass the most significant legislation to expand, support and help American families since the New Deal…This is generational, transformational change to help American families who need the help in this rapidly changing world.”
Wall Street analysts expect these “once-in-a-generation” investment packages to revolutionize the country’s infrastructure. Furthermore, the growth potential of construction material companies is likely to attract investor attention soon. Consequently, analysts expect popular infrastructure stocks Rio Tinto Group (RIO), Astec Industries, Inc. (ASTE), and Columbus McKinnon Corporation (CMCO) to rally by 20% or more in the near term.
