HR 131: Creation of a National Infrastructure Bank; express support

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.

WHEREAS, the American Society of Civil Engineers (ASCE) stated in its 2021 report card that the United States received a grade of C- regarding the current state of infrastructure and that more than six trillion dollars would be needed to restore the nation's infrastructure to a state of good repair. Over three trillion dollars is currently not funded, and the remainder is inadequately funded. New 21st Century projects are unfunded; and

WHEREAS, the State of Georgia received a C+ grade from the ASCE in 2024. Transit was graded D, Roads C+, Storm water C-, Wastewater C-, Dams D+, Aviation C+, Drinking water C+, and Solid Waste C+; and

WHEREAS, half of all Georgians do not have access to public sewer service, and wastewater needs total $2.7 billion; Atlanta ranks No. 8 nationally in traffic congestion (average cost per driver is $1,510 per year); and

WHEREAS, more than 654,000 renters pay more than 30 percent of their income toward rent, and there is a shortage of at least 214,000 new units of affordable rental homes in the state for the most housing insecure; and

WHEREAS, there are at least 86,000 lead service lines in Georgia, 31,000 of which are in Atlanta, requiring $1 billion to replace; and

WHEREAS, Congress introduced HR 4052, The National Infrastructure Bank Act, to create a new National Infrastructure Bank (NIB). It will be capitalized by existing Treasury debt and require no new federal appropriations or federal taxes. It will invest five trillion dollars into infrastructure only and create 25 million new high-wage jobs; and

WHEREAS, the NIB is modeled on previous banks that helped build much of our infrastructure under Presidents George Washington, James Madison, Abraham Lincoln, and Franklin D. Roosevelt. The last such bank helped bring us out of the Depression and win World War II; and

WHEREAS, the NIB will address all the infrastructure needs of the State of Georgia not covered by existing state or federal funding. It will repair all hard infrastructure, including roads, bridges, schools, all needed affordable housing units, sewers, lead service lines, drinking water, and much more. It will build new projects, including expanded passenger and high-speed rail service; and

WHEREAS, the NIB will pay prevailing wages and enforce a Buy America policy. It will massively expand small and medium-sized businesses in the state and ensure significant participation of Disadvantaged Minority Enterprises. The NIB will invest in rural and urban communities. Economists estimate the bank will grow the economy by 5 percent per year, as did its predecessors; and

WHEREAS, many organizations have issued statements of support. Twenty-nine state legislatures filed or passed resolutions, as have county and city councils. Endorsements include: The National Black Caucus of State Legislators; The National Hispanic Caucus of State Legislators; The National Asian-Pacific American Caucus of State Legislators; The Georgia State Council of Machinists; IUEC-Elevator Constructors Local 32, Atlanta; the Central Georgia Central Labor Council; NADO; the United Association of Plumbers and Steamfitters; the National Latino Farmers and Ranchers; The National Association of Minority Contractors; The United States High Speed Rail Association; and many more.

NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES that the members of this body support HR 4052 or any equivalent congressional legislation made to create a National Infrastructure Bank to finance urgently needed infrastructure projects. BE IT FURTHER RESOLVED that the Clerk of the House of Representatives is authorized and directed to make appropriate copies of this resolution available for distribution to the Georgia delegation to Congress, the Governor, and to the President of the United States.