For Release: Thursday, March 1, 2001
Contact: David Gillies: 202-225-5661

COSTELLO BACKS LEGISLATION TO HELP THE STEEL INDUSTRY

Washington - U.S. Congressman Jerry Costello (D-IL) today joined other members of the Congressional Steel Caucus in introducing legislation to aid the domestic steel industry. The primary goal of the bill is to stop the flood of imported steel into the United States, which has hurt domestic producers and workers. Costello represents the 12th Congressional District, home to Granite City Steel and Laclede Steel, located in Alton. Both have felt the effects recently of cheap foreign steel.

"Steel companies in this country continue to suffer due to the dumping of foreign steel in America. This bill is needed to protect jobs and save a critical domestic industry. It is my hope the new Administration will work with us to implement these ideas," said Costello.

The main title of the bill would limit foreign steel imports to the average five-year level that existed before the previous crisis began in 1998. Similar language passed the House of Representatives last Congress by a solid margin. Other provisions would take steps to ensure retiree health benefits and improve the Steel Loan Guarantee program.

The Congressional Steel Caucus is a bipartisan group formed in 1977 to address issues of concern to the steel industry. Costello has been a member of the Congressional Steel Caucus since his election to Congress in 1988.

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