Bill Text: IL HR0434 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Urges 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.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2021-09-24 - Added Co-Sponsor Rep. Margaret Croke [HR0434 Detail]
Download: Illinois-2021-HR0434-Introduced.html
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| 1 | HOUSE RESOLUTION
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| 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
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| 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
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| 16 | WHEREAS, Current multi-year capital needs for transit in | ||||||
| 17 | the Chicagoland area require an annual funding level of | ||||||
| 18 | between $2 and $3 billion to reach a state of good repair, and | ||||||
| 19 | funding has not been identified; Chicago has 400,000 lead | ||||||
| 20 | service lines and has the worst documented lead line problem | ||||||
| 21 | in the nation; the cost of replacement will be at least $11 | ||||||
| 22 | billion; and
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| 1 | WHEREAS, Illinois is home to one of the most important | ||||||
| 2 | rail hubs in the country, and rail revenue is integral to the | ||||||
| 3 | State's economy; over $17.5 billion of substantial investments | ||||||
| 4 | to the railroad infrastructure in Illinois are needed to | ||||||
| 5 | accommodate just the expected 30 percent future growth in | ||||||
| 6 | freight rail traffic; Chicago should also be a hub for | ||||||
| 7 | increased passenger rail and a high speed rail for the entire | ||||||
| 8 | Midwest; and
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| 9 | WHEREAS, A new National Infrastructure Bank (NIB) could | ||||||
| 10 | directly help finance all of these projects; U.S. H.R. 3339, | ||||||
| 11 | "The National Infrastructure Bank Act," which is sponsored by | ||||||
| 12 | U.S. Representative Danny Davis of Illinois and supported by | ||||||
| 13 | U.S. Representative Bobby Rush of Illinois, has been | ||||||
| 14 | introduced to Congress; this resolution would create a $5 | ||||||
| 15 | trillion bank that could help finance all infrastructure | ||||||
| 16 | projects and provide higher paying infrastructure and related | ||||||
| 17 | employment to those who lost their jobs during the pandemic; | ||||||
| 18 | and
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| 19 | WHEREAS, The NIB is modeled on previous successful | ||||||
| 20 | institutions, which built much of the nation's infrastructure | ||||||
| 21 | including the infrastructure of Illinois; under Presidents | ||||||
| 22 | George Washington, James Madison, Abraham Lincoln, and | ||||||
| 23 | Franklin D. Roosevelt, similar institutions financed the | ||||||
| 24 | roads, bridges, dams, railroads, canals, and other projects | ||||||
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| 1 | that made us the envy of the world; the last NIB-like | ||||||
| 2 | institution helped bring us out of the Great Depression and | ||||||
| 3 | win World War Two; and
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| 4 | WHEREAS, The NIB will be capitalized by existing Treasury | ||||||
| 5 | debt and will require no new federal spending and no new taxes; | ||||||
| 6 | it will be authorized to spend $5 trillion in urgently needed | ||||||
| 7 | infrastructure projects and will create over twenty million | ||||||
| 8 | new jobs, pay Davis-Bacon wages, and ensure Buy American | ||||||
| 9 | policies; it will direct spending into disadvantaged business | ||||||
| 10 | enterprises and ensure substantial minority hiring; experts | ||||||
| 11 | state that the NIB will increase Gross Domestic Product to the | ||||||
| 12 | five per cent annual level, as did all previous institutions; | ||||||
| 13 | and
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| 14 | WHEREAS, The NIB is supported by many organizations; 21 | ||||||
| 15 | state legislatures have introduced or passed resolutions, and | ||||||
| 16 | dozens of city and county councils have done the same, | ||||||
| 17 | including the Chicago City Council; other endorsements include | ||||||
| 18 | The National Congress of Black Women, the National Association | ||||||
| 19 | of Counties, the Public Banking Institute, the National | ||||||
| 20 | Federation of Federal Employees, the American Sustainable | ||||||
| 21 | Business Council, the National Association of Minority | ||||||
| 22 | Contractors, the National Latino Farmers and Ranchers, and | ||||||
| 23 | many other labor and community organizations; therefore, be it
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| 1 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 2 | HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 3 | we urge the Congress of the United States to pass U.S. House | ||||||
| 4 | Resolution 3339 to create a National Infrastructure Bank to | ||||||
| 5 | finance urgently needed infrastructure projects; and be it | ||||||
| 6 | further
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| 7 | RESOLVED, That suitable copies of this resolution be | ||||||
| 8 | delivered to every member of the Illinois Congressional | ||||||
| 9 | Delegation, Governor JB Pritzker, and President Joe Biden.
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