SR0480 102ND GENERAL ASSEMBLY

SR0480 LRB102 19971 ECR 28754 r

SENATE RESOLUTION

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; an amount totaling over two and a half trillion dollars is currently not funded, and the remainder is inadequately funded; new, 21st century projects are unfunded; and

WHEREAS, Illinois received a grade of C- from the ASCE in 2018; Illinois roadways were ranked third worst nationally for travel delay, excess fuel consumed, truck congestion cost, and total congestion cost; this cost Illinois' motorists $566 per year for a total of $4.8 billion; transit systems in Illinois are in need of funding; and

WHEREAS, Current multi-year capital needs for transit in the Chicago area require an annual funding level of between $2 and $3 billion to reach a state of good repair, and funding has not been identified; Chicago has 400,000 lead service lines and has the worst documented lead line problem in the nation; the cost of replacement will be at least $11 billion; and

WHEREAS, Illinois is home to one of the most important rail hubs in the country, and rail revenue is integral to the State's economy; substantial investments of more than $17.5 billion to the railroad infrastructure in Illinois are needed to accommodate just the expected 30 percent future growth in freight rail traffic; Chicago should also be a hub for increased passenger rail and a high speed rail for the entire Midwest; and

WHEREAS, A new National Infrastructure Bank (NIB) could directly help finance all of these projects; U.S. H.R. 3339, "The National Infrastructure Bank Act," which is sponsored by U.S. Representative Danny Davis of Illinois and supported by U.S. Representative Bobby Rush of Illinois, has been introduced to Congress; this resolution would create a $5 trillion bank that could help finance all infrastructure projects and provide higher paying infrastructure and related employment to those who lost their jobs during the pandemic; and

WHEREAS, The NIB is modeled on previous successful institutions, which built much of the nation's infrastructure including the infrastructure of Illinois; under Presidents George Washington, James Madison, Abraham Lincoln, and Franklin D. Roosevelt, similar institutions financed the roads, bridges, dams, railroads, canals, and other projects that made us the envy of the world; the last NIB-like institution helped bring us out of the Great Depression and win World War Two; and

WHEREAS, The NIB will be capitalized by existing Treasury debt and will require no new federal spending and no new taxes; it will be authorized to spend $5 trillion in urgently needed infrastructure projects and will create over twenty million new jobs, pay Davis-Bacon wages, and ensure Buy American policies; it will direct spending into disadvantaged business enterprises and ensure substantial minority hiring; experts state that the NIB will increase Gross Domestic Product to the five per cent annual level, as did all previous institutions; and

WHEREAS, The NIB is supported by many organizations; 21 state legislatures have introduced or passed resolutions, and dozens of city and county councils have done the same, including the Chicago City Council; other endorsements include The National Congress of Black Women, the National Association of Counties, the Public Banking Institute, the National Federation of Federal Employees, the American Sustainable Business Council, the National Association of Minority Contractors, the National Latino Farmers and Ranchers, and many other labor and community organizations; therefore, be it

RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge the Congress of the United States to pass U.S. House Resolution 3339 to create a National Infrastructure Bank to finance urgently needed infrastructure projects; and be it further

RESOLVED, That suitable copies of this resolution be delivered to every member of the Illinois Congressional Delegation, Governor JB Pritzker, and President Joe Biden.