Full Text of SR0480 102nd General Assembly
SR0480 102ND GENERAL ASSEMBLY |
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| 1 | | SENATE RESOLUTION
| 2 | | WHEREAS, The American Society of Civil Engineers (ASCE) | 3 | | stated in its 2021 report card that the United States received | 4 | | a grade of C- regarding the current state of infrastructure | 5 | | and that more than six trillion dollars would be needed to | 6 | | restore the nation's infrastructure to a state of good repair; | 7 | | an amount totaling over two and a half trillion dollars is | 8 | | currently not funded, and the remainder is inadequately | 9 | | funded; new, 21st century projects are unfunded; and
| 10 | | WHEREAS, Illinois received a grade of C- from the ASCE in | 11 | | 2018; Illinois roadways were ranked third worst nationally for | 12 | | travel delay, excess fuel consumed, truck congestion cost, and | 13 | | total congestion cost; this cost Illinois' motorists $566 per | 14 | | year for a total of $4.8 billion; transit systems in Illinois | 15 | | are in need of funding; and
| 16 | | WHEREAS, Current multi-year capital needs for transit in | 17 | | the Chicago area require an annual funding level of between $2 | 18 | | and $3 billion to reach a state of good repair, and funding has | 19 | | not been identified; Chicago has 400,000 lead service lines | 20 | | and has the worst documented lead line problem in the nation; | 21 | | the cost of replacement will be at least $11 billion; and
| 22 | | WHEREAS, Illinois is home to one of the most important |
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| 1 | | rail hubs in the country, and rail revenue is integral to the | 2 | | State's economy; substantial investments of more than $17.5 | 3 | | billion to the railroad infrastructure in Illinois are needed | 4 | | to accommodate just the expected 30 percent future growth in | 5 | | freight rail traffic; Chicago should also be a hub for | 6 | | increased passenger rail and a high speed rail for the entire | 7 | | Midwest; and
| 8 | | WHEREAS, A new National Infrastructure Bank (NIB) could | 9 | | directly help finance all of these projects; U.S. H.R. 3339, | 10 | | "The National Infrastructure Bank Act," which is sponsored by | 11 | | U.S. Representative Danny Davis of Illinois and supported by | 12 | | U.S. Representative Bobby Rush of Illinois, has been | 13 | | introduced to Congress; this resolution would create a $5 | 14 | | trillion bank that could help finance all infrastructure | 15 | | projects and provide higher paying infrastructure and related | 16 | | employment to those who lost their jobs during the pandemic; | 17 | | and
| 18 | | WHEREAS, The NIB is modeled on previous successful | 19 | | institutions, which built much of the nation's infrastructure | 20 | | including the infrastructure of Illinois; under Presidents | 21 | | George Washington, James Madison, Abraham Lincoln, and | 22 | | Franklin D. Roosevelt, similar institutions financed the | 23 | | roads, bridges, dams, railroads, canals, and other projects | 24 | | that made us the envy of the world; the last NIB-like |
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| 1 | | institution helped bring us out of the Great Depression and | 2 | | win World War Two; and
| 3 | | WHEREAS, The NIB will be capitalized by existing Treasury | 4 | | debt and will require no new federal spending and no new taxes; | 5 | | it will be authorized to spend $5 trillion in urgently needed | 6 | | infrastructure projects and will create over twenty million | 7 | | new jobs, pay Davis-Bacon wages, and ensure Buy American | 8 | | policies; it will direct spending into disadvantaged business | 9 | | enterprises and ensure substantial minority hiring; experts | 10 | | state that the NIB will increase Gross Domestic Product to the | 11 | | five per cent annual level, as did all previous institutions; | 12 | | and
| 13 | | WHEREAS, The NIB is supported by many organizations; 21 | 14 | | state legislatures have introduced or passed resolutions, and | 15 | | dozens of city and county councils have done the same, | 16 | | including the Chicago City Council; other endorsements include | 17 | | The National Congress of Black Women, the National Association | 18 | | of Counties, the Public Banking Institute, the National | 19 | | Federation of Federal Employees, the American Sustainable | 20 | | Business Council, the National Association of Minority | 21 | | Contractors, the National Latino Farmers and Ranchers, and | 22 | | many other labor and community organizations; therefore, be it
| 23 | | RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL |
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| 1 | | ASSEMBLY OF THE STATE OF ILLINOIS, that we urge the Congress of | 2 | | the United States to pass U.S. House Resolution 3339 to create | 3 | | a National Infrastructure Bank to finance urgently needed | 4 | | infrastructure projects; and be it further
| 5 | | RESOLVED, That suitable copies of this resolution be | 6 | | delivered to every member of the Illinois Congressional | 7 | | Delegation, Governor JB Pritzker, and President Joe Biden.
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