Bought Any Steel Lately?
If you have, you probably have noticed that the cost has risen 23% in the last year alone—that’s to go along with similar increases in the cost of other related major construction materials.
If you haven’t, then you’re like every other consumer in
Steel, of course, is not among the items in the normal “basket of goods” purchased by consumers in this state or any other one, which is what determines the consumer price index. To be sure, it’s unlikely you’d ever hear the line: “Honey, could you please remember to stop and pick-up some steel on your way home from work today?”
But for governments, steel is among the materials necessary for new construction, particularly involving transportation infrastructure. Anyone who has driven through the Marquette Interchange in
The problem with sharp increases in the cost of construction materials like steel not being included in the consumer price index is that the proposed constitutional amendment to restrict public revenue in
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