3 Stocks to Buy Before the Infrastructure Bill Passes By StockNews – Investing.com

3 Stocks to Buy Before the Infrastructure Bill Passes By StockNews – Investing.com

© Reuters. 3 Stocks to Buy Before the Infrastructure Bill Passes

The infrastructure sector is gaining traction as construction activities increase with the reopening of the global economy. Furthermore, President Biden's proposed infrastructure plan to rebuild and reshape U.S. infrastructure and its economy is expected to provide a solid boost to the sector. Consequently, we think it could be wise to bet on fundamentally sound companies that service the sector, such as Caterpillar (CAT), Cummins (CMI), and Nucor (NUE) before Biden's bill is passed. Read on.Infrastructure activities came to a near standstill last year due to COVID-19 pandemic-related restrictions. The sector is now witnessing a solid recovery with the reopening of the economy and the easing of restrictions thanks to a robust mass vaccination drive. According to the U.S. Census Bureau, construction spending increased 5.8% year-over-year to $452.3 billion during the first four months of this year.

While Biden's much discussed infrastructure bill has yet to be passed, the White House and Senate Republicans appear to be inching closer to a deal. U.S. Senate Majority Leader Chuck Schumer said on June 15 that he hoped to have a July vote on a bipartisan infrastructure bill. With the urgent