Full Text of HR0014 101st General Assembly
HR0014 101ST GENERAL ASSEMBLY |
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| 1 | | HOUSE RESOLUTION
| 2 | | WHEREAS, The United States is in a deep infrastructure | 3 | | crisis; the American Society of Civil Engineers, the U.S. | 4 | | Chamber of Commerce, the International Association of | 5 | | Machinists and Aerospace Workers, and the North American | 6 | | Building Trades Unions all estimate the infrastructure | 7 | | shortfall at approximately $4 trillion; this does not account | 8 | | for needed spending on new projects, including high-speed rail | 9 | | systems, water projects, a modernized power grid, and | 10 | | nationwide broadband; and
| 11 | | WHEREAS, The American Society of Civil Engineers gave the | 12 | | State of Illinois a grade of C+ on its 2017 Infrastructure | 13 | | Report Card; on the state of its roads, the State received a | 14 | | grade of a D and was ranked third worst in the nation in travel | 15 | | delay and truck congestion; the State has 2,300 structurally | 16 | | deficient bridges, and many of the State's over 1,500 water | 17 | | systems were built in the first half of the 20th century and | 18 | | now need urgent repair and replacement; and
| 19 | | WHEREAS, While the State can partially finance many | 20 | | projects, it needs a funding partner to address all of the | 21 | | infrastructure needs; the proposed National Infrastructure | 22 | | Bank could join with all states, including Illinois, and with | 23 | | public banks to provide the necessary funding for everything |
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| 1 | | from mass transit to clean water, rural broadband, and | 2 | | passenger and high-speed rail; and
| 3 | | WHEREAS, The Bank would be capitalized at $3 to $4 trillion | 4 | | with little new taxpayer money; the Bank would be funded on the | 5 | | successful model of Alexander Hamilton's First Bank of the | 6 | | United States and subsequent National Banks, including the | 7 | | Lincoln Banking Acts and Franklin Roosevelt's Reconstruction | 8 | | Finance Corporation; the Bank would repurpose existing | 9 | | Treasury debt to useful projects; and
| 10 | | WHEREAS, This project has been endorsed by many labor | 11 | | organizations and institutions, including the Democratic | 12 | | Municipal Officials, the National Federation of Federal | 13 | | Employees, the National Latino Farmers and Ranchers | 14 | | Association; resolutions in support of this project have been | 15 | | filed by 16 state legislatures; therefore, be it
| 16 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | 17 | | HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | 18 | | the Illinois House of Representatives hereby calls upon the | 19 | | Congress of the United States to introduce legislation to | 20 | | create this new National Infrastructure Bank, which will enable | 21 | | our nation to erect a new infrastructure platform appropriate | 22 | | for the 21st century; and be it further
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| 1 | | RESOLVED, That suitable copies of this resolution be | 2 | | delivered to all members of the Illinois delegations to | 3 | | Congress and to the President of the United States for their | 4 | | immediate consideration and action.
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