Connect with us

Hi, what are you looking for?

Metaverse CapitalistsMetaverse Capitalists

Investing

Great Moments in “Buy America”

Scott Lincicome

We often discuss how “Buy America” laws increase federal project costs by requiring pricier American‐​made materials, but from tiny Brookport, Illinois comes a humorous/​sad reminder that the protectionist law costs time and taxpayer money even when it’s waived:

Brookport City Council approved an increase in the bid for the sewer project of $51,274.50 to Mid West Petroleum during its monthly meeting on Tuesday, July 11.

While the engineers were waiting for a waiver of the Build America, Buy America Act in Washington D.C., parts for the international pumps had increased in cost. The pumps chosen as the best equipment for the city’s needs are not manufactured in the U.S., so a waiver was needed. The total awarded amount is now $1,760,424.50.

The approved construction loan for the sewer project passed last month was amended to add $714,000 because of construction overruns.

For more on Buy America laws (and why they should be repealed), check out my recent column on the subject.

    You May Also Like

    Stocks

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Business

    In the UK, the care sector is under incredible strain, it’s good to know there are people working hard to address the issue. One...

    Politics

    On January 10, the French government announced plans to raise the retirement age from 62 to 64. The change would mean that after 2027,...

    Business

    With the increased threat of industrial strike action looming across the UK, we consider whether a force majeure clause can strike the right chord...

    Dislaimer: pinnacleofinvestment.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 metaversecapitalists.com | All Rights Reserved