President Joe Biden is coming ever-closer to fulfilling one of his largest campaign promises — widespread infrastructure spending. The infrastructure bill has been a huge point of debate among lawmakers on Capitol Hill for a while now. Now, it looks to be finally moving. This brings investor interest once again toward infrastructure stocks. What companies stand to gain the most from this nationwide makeover?
Today seems to be the day when the two parties are finally coming to an agreement on the bill’s terms. A bipartisan committee announced that the $1.2 trillion bill is ready for the rest of the Senate to read over. Importantly, Republican negotiators said that major issues are largely addressed. This allows the debate over more minute details to begin.
This news is very promising; it was just days ago that Republican Senators shot down the bill when it came time to vote. Now, there is an entirely new feeling in the air. Representatives like Susan Collins of Maine are even expressing excitement to finally come to terms with Democrats. Biden says he feels confident in the bill’s future.
Which Infrastructure Stocks Stand to Gain?
We can all be excited by the coming positive change in things like our roadways and energy production. But, savvy investors are also now starting to brainstorm on infrastructure stocks they can buy to capitalize on the coming implementation of the bill.
Construction aggregate producers like Vulcan Materials (NYSE:VMC) and Martin Marietta Aggregates (NYSE:MLM) are names that stand to gain quite a bit. These companies are two of the largest producers of materials like crushed stone and concrete. As such, they are sure to be tapped for their products.
Likewise, companies that produce metals like iron and steel are hot plays for the infrastructure boom. BHP Group (NYSE:BHP), one of the largest iron companies, and Cleveland-Cliffs (NYSE:CLF), a popular Reddit stock, represent some of the winners in these industries.
EV charging stocks are also big players, since much emphasis will be placed on accommodating EVs on U.S. roads. As such, stocks like ChargePoint (NYSE:CHPT) and EVgo (NASDAQ:EVGO) are valuable infrastructure stocks.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.