White House "Likely" To Tap Up Congress For Funds To Rebuild Key Bridge

US Secretary of Transport Pete Buttigieg has told reporters at the White House that the Biden administration is "likely" to turn to Congress in the coming days for supplemental funding to rebuild the Baltimore Francis Scott Key Bridge, which collapsed when a container ship struck a support structure on Tuesday morning.

• Buttigieg says that emergency funds are immediately available to carry out preliminary work on salvage and clear the site but declined to speculate on the total cost of the reconstruction and salvage operation.
• The bridge collapse has raised concerns that a lengthy process to fully reopen the Port of Baltimore effort could contribute to supply chain snares in the northeast and return of some inflationary pressures, particularly in the automotive sector. It is also unclear how quickly the bridge can be rebuilt – likely to be measured in years rather than months.
• It is also unclear what level of support Biden can expect from Congress considering ongoing disputes over spending. Journalists have pointed at 2007 when Congress approved USD$250 million to rebuild the I-35W bridge in Minnesota just days after its collapse as an example of Congress moving quickly to address an infrastructure crisis.
• Bloomberg noted today: “The catastrophic consequences are set to stretch out for weeks. As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor, and General Motors, and lumber and gypsum are threatened with disruption…”