Home Local News GRASSLEY CONCERNED OF ECONOMIC DOWNTURN FROM BRIDGE COLLAPSE

GRASSLEY CONCERNED OF ECONOMIC DOWNTURN FROM BRIDGE COLLAPSE

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THIS WEEK’S DEADLY COLLAPSE OF BALTIMORE’S FRANCIS SCOTT KEY BRIDGE MAY HAVE SIGNIFICANT RIPPLE EFFECTS IN IOWA, AS THAT MARYLAND PORT IS A VITAL LINK IN THE SUPPLY CHAIN FOR GETTING IOWA’S COMMODITIES AND A RANGE OF PRODUCTS TO OVERSEAS MARKETS.

IOWA U-S SENATOR CHUCK GRASSLEY SAYS HE’S CONCERNED THAT AS LONG AS THAT PORT IS BLOCKED BY THE WRECKAGE AND OUT OF COMMISSION, THE EFFECTS WILL BE WIDESPREAD.

BALT1 OC…….. “THE ECONOMY” :11

GRASSLEY SAYS IT’S POSSIBLE IOWA COMPANIES THAT NEED TO SHIP THEIR COMMODITIES OR PRODUCTS OVERSEAS VIA THE EAST COAST CAN USE ANOTHER PORT, BUT MOST OF THEM ARE FARTHER AWAY WHICH WOULD LIKELY MEAN HIGHER COSTS.

BALT2 OC……….”SHORT TERM” :18

THERE ARE CALLS FOR CONGRESS TO PASS AN EMERGENCY SPENDING MEASURE TO PAY FOR REBUILDING THE BRIDGE, WHICH COLLAPSED EARLY TUESDAY AFTER A SUPPORT TOWER WAS SLAMMED BY A MASSIVE CARGO SHIP, WHICH WAS APPARENTLY MALFUNCTIONING.

BALT3 OC……. “PAY FOR IT” ;22

EARLY ESTIMATES SAY REBUILDING THE BRIDGE COULD COST TWO-BILLION DOLLARS AND TAKE A MINIMUM OF TWO YEARS, POSSIBLY LONGER.

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