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1
HOUSE RESOLUTION

 
2    WHEREAS, The United States is in a deep infrastructure
3crisis; the American Society of Civil Engineers, the U.S.
4Chamber of Commerce, the International Association of
5Machinists and Aerospace Workers, and the North American
6Building Trades Unions all estimate the infrastructure
7shortfall at approximately $4 trillion; this does not account
8for needed spending on new projects, including high-speed rail
9systems, water projects, a modernized power grid, and
10nationwide broadband; and
 
11    WHEREAS, The American Society of Civil Engineers gave the
12State of Illinois a grade of C+ on its 2017 Infrastructure
13Report Card; on the state of its roads, the State received a
14grade of a D and was ranked third worst in the nation in travel
15delay and truck congestion; the State has 2,300 structurally
16deficient bridges, and many of the State's over 1,500 water
17systems were built in the first half of the 20th century and
18now need urgent repair and replacement; and
 
19    WHEREAS, While the State can partially finance many
20projects, it needs a funding partner to address all of the
21infrastructure needs; the proposed National Infrastructure
22Bank could join with all states, including Illinois, and with
23public banks to provide the necessary funding for everything

 

 

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1from mass transit to clean water, rural broadband, and
2passenger and high-speed rail; and
 
3    WHEREAS, The Bank would be capitalized at $3 to $4 trillion
4with little new taxpayer money; the Bank would be funded on the
5successful model of Alexander Hamilton's First Bank of the
6United States and subsequent National Banks, including the
7Lincoln Banking Acts and Franklin Roosevelt's Reconstruction
8Finance Corporation; the Bank would repurpose existing
9Treasury debt to useful projects; and
 
10    WHEREAS, This project has been endorsed by many labor
11organizations and institutions, including the Democratic
12Municipal Officials, the National Federation of Federal
13Employees, the National Latino Farmers and Ranchers
14Association; resolutions in support of this project have been
15filed by 16 state legislatures; therefore, be it
 
16    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
17HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
18the Illinois House of Representatives hereby calls upon the
19Congress of the United States to introduce legislation to
20create this new National Infrastructure Bank, which will enable
21our nation to erect a new infrastructure platform appropriate
22for the 21st century; and be it further
 

 

 

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1    RESOLVED, That suitable copies of this resolution be
2delivered to all members of the Illinois delegations to
3Congress and to the President of the United States for their
4immediate consideration and action.