HR131: HR131 Creation of a National Infrastructure Bank; express support

25 LC 112 2809 House Resolution 131 By: Representatives Park of the 107th, Jackson of the 128th, Griffin of the 149th, Clark of the 108th, Herring of the 145th, and others A RESOLUTION Expressing support for the creation of a National Infrastructure Bank; and for other purposes.1 WHEREAS, the American Society of Civil Engineers (ASCE) stated in its 2021 report card2 that the United States received a grade of C- regarding the current state of infrastructure and3 that more than six trillion dollars would be needed to restore the nation's infrastructure to a4 state of good repair. Over three trillion dollars is currently not funded, and the remainder is5 inadequately funded. New 21st Century projects are unfunded; and6 WHEREAS, the State of Georgia received a C+ grade from the ASCE in 2024. Transit was7 graded D, Roads C+, Storm water C-, Wastewater C-, Dams D+, Avi ation C+, Drinking8 water C+, and Solid Waste C+; and9 WHEREAS, half of all Georgians do not have access to public sewer service, and wastewater10 needs total $2.7 billion; Atlanta ranks No. 8 nationally in traffic congestion (average cost per11 driver is $1,510 per year); and12 WHEREAS, more than 654,000 renters pay more than 30 percent of their income toward13 rent, and there is a shortage of at least 214,000 new units of affordable rental homes in the14 state for the most housing insecure; and15 H. R. 131 - 1 - 25 LC 112 2809 WHEREAS, there are at least 86,000 lead service lines in Georgia, 31,000 of which are in16 Atlanta, requiring $1 billion to replace; and17 WHEREAS, Congress introduced HR 4052, The National Infrastructure Bank Act, to create18 a new National Infrastructure Bank (NIB). It will be capitalize d by existing Treasury debt19 and require no new federal appropriations or federal taxes. It will invest five trillion dollars20 into infrastructure only and create 25 million new high-wage jobs; and21 WHEREAS, the NIB is modeled on previous banks that helped build much of our22 infrastructure under Presidents George Washington, James Madison, Abraham Lincoln, and23 Franklin D. Roosevelt. The last such bank helped bring us out o f the Depression and win24 World War II; and25 WHEREAS, the NIB will address all the infrastructure needs of t he State of Georgia not26 covered by existing state or federal funding. It will repair all hard infrastructure, including27 roads, bridges, schools, all needed affordable housing units, s ewers, lead service lines,28 drinking water, and much more. It will build new projects, including expanded passenger and29 high-speed rail service; and30 WHEREAS, the NIB will pay prevailing wages and enforce a Buy America policy. It will31 massively expand small and medium-sized businesses in the state and ensure significant32 participation of Disadvantaged Minority Enterprises. The NIB will invest in rural and urban33 communities. Economists estimate the bank will grow the economy by 5 percent per year,34 as did its predecessors; and35 WHEREAS, many organizations have issued statements of support. Twenty-nine state36 legislatures filed or passed resolutions, as have county and ci ty councils. Endorsements37 H. R. 131 - 2 - 25 LC 112 2809 include: The National Black Caucus of State Legislators; The National Hispanic Caucus of38 State Legislators; The National Asian-Pacific American Caucus o f State Legislators; The39 Georgia State Council of Machinists; IUEC-Elevator Constructors Local 32, Atlanta; the40 Central Georgia Central Labor Council; NADO; the United Associa tion of Plumbers and41 Steamfitters; the National Latino Farmers and Ranchers; The Nat ional Association of42 Minority Contractors; The United States High Speed Rail Association; and many more.43 NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES that44 the members of this body support HR 4052 or any equivalent congressional legislation made45 to create a National Infrastructure Bank to finance urgently needed infrastructure projects.46 BE IT FURTHER RESOLVED that the Clerk of the House of Representatives is authorized47 and directed to make appropriate copies of this resolution avai lable for distribution to the48 Georgia delegation to Congress, the Governor, and to the President of the United States.49 H. R. 131 - 3 -