house resolution no.393

Rep. Thanedar offered the following resolution:

A resolution to in support of federal legislation to enable the creation of a National Infrastructure Bank.

Whereas, In its 2021 report card, the American Society of Civil Engineers (ASCE) reported that the United States received a grade of C- regarding the current state of its infrastructure. There remains a $2.5 trillion investment gap that has continuously grown over the past decade. ASCE estimates that by 2039, this continued underinvestment in critical infrastructure across the country will cost our nation $10 trillion in GDP, more than 3 million jobs, and over $2 trillion in exports; and

Whereas, The ASCE has scored Michiganís infrastructure with a grade of D+, even lower than the national ranking. Many of Michigan's roads remain in appalling condition. The ASCE has rated approximately 39% of Michiganís 120,000 miles of paved roadways in poor condition, 43% in fair condition, and a mere 18% in good condition. Wayne County, as just one example, has reported nearly 60% of its roads to be in poor condition. Finally, 11% of Michiganís bridges have been deemed structurally deficient. These poor infrastructure conditions cost each Michigan motorist over $600 per year; and

Whereas, The Detroit Public Schools Community District is in a state of dilapidated repair and likely requires over $1 billion to restore. These schools are suffering from inoperable boilers, corroded plumbing fixtures, cracking exterior walls, leaking roofs, and faulty electrical panels known to be fire hazards. At least 100 schools have current capital needs. In September of 2018, the drinking water in 57 of the 86 tested Detroit schools were found to have elevated levels of both copper and lead; and

Whereas, Housing insecurity predates the pandemic and remains a pressing concern for Michiganders across the state. There remains a shortage of 200,000 affordable and available rental homes for low-income renters. In 2019, more than 10,000 Detroit residents experienced homelessness, including 2,326 who were chronically homeless. Of course, COVID-19 exacerbated this crisis. In January of 2021 alone, more than 3,500 Detroiters requested rental payment assistance; and

Whereas, The United States Congressís introduction of HR 3339, The National Infrastructure Bank Act, which would create a new National Infrastructure Bank, presents a tremendous opportunity for acquiring funding to remedy Michiganís infrastructure problems.† This legislation would create a $5 trillion bank for the purpose of ďfacilitat[ing] the long-term financing of infrastructure projects.Ē† This bank would not require additional federal spending or the imposition of new federal taxes, instead being financed entirely by repurposing existing Department of the Treasury debt; and

Whereas, The National Infrastructure Bank Act is modeled on the establishment of previous banks utilized to build much of our nationís infrastructure. Similar banks were employed under Presidents George Washington, James Madison, Abraham Lincoln, and Franklin D. Roosevelt. With the resources consolidated and deployed by virtue of the most recent iteration of a national bank, President Roosevelt was able to bring our nation out of the Great Depression and lead us to victory in the Second World War; and

Whereas, A new National Infrastructure Bank will help finance all of Michiganís infrastructure needs. This Bank, as described in HR 3339, would exist solely to build infrastructure, generate jobs, and battle poverty. Funding from this bank would be used to fix bridges, roads, schools, drinking water systems; build affordable housing units; and install broadband across the nation. The bank would finance new rail and mass transportation projects, connecting Michigan to high-speed rail corridors in the Midwest and dramatically increasing manufacturing in the state. Funds would be used to hire and train many Michiganders who lost their jobs during the COVID-19 pandemic; and

Whereas, Support for a National Infrastructure Bank is widespread across our state and the nation. Twenty-one state legislatures have introduced or passed resolutions of support. Local-level municipal bodies across the nation have also expressed support, including: Dearborn Hts. City Council, Highland Park City Council, Inkster City Council, Hamtramck City Council, Romulus City Council, Redford Township Council, Cleveland City Council, Pittsburgh City Council, Chicago City Council, Providence RI City Council, Philadelphia City Council, New York City Council, Toledo City Council, Akron City Council, and many more. National organizations that endorse the establishment of National Infrastructure Bank include: the Public Banking Institute, the National Congress of Black Women, the National Association of Counties, the US High Speed Rail Association, the National Latino Farmers and Ranchers, the American Sustainable Business Council, the National Association of Minority Contractors, the National Federation of Federal Employees, and many others; now, therefore, be it

Resolved by the House of Representatives, That we support federal legislation to enable the creation of a National Infrastructure Bank; and be it further

Resolved, That copies of this resolution be transmitted to the President of the United States, the Governor, and the Michigan congressional delegation.