Bill Text: IL SR0480 | 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 2-0)
Status: (Introduced - Dead) 2021-08-31 - Added as Co-Sponsor Sen. Adriane Johnson [SR0480 Detail]
Download: Illinois-2021-SR0480-Introduced.html
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1 | SENATE 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 Chicago area require an annual funding level of between $2 | ||||||
18 | and $3 billion to reach a state of good repair, and funding has | ||||||
19 | not been identified; Chicago has 400,000 lead service lines | ||||||
20 | and has the worst documented lead line problem in the nation; | ||||||
21 | the cost of replacement will be at least $11 billion; and
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22 | WHEREAS, Illinois is home to one of the most important |
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1 | rail hubs in the country, and rail revenue is integral to the | ||||||
2 | State's economy; substantial investments of more than $17.5 | ||||||
3 | billion to the railroad infrastructure in Illinois are needed | ||||||
4 | to accommodate just the expected 30 percent future growth in | ||||||
5 | freight rail traffic; Chicago should also be a hub for | ||||||
6 | increased passenger rail and a high speed rail for the entire | ||||||
7 | Midwest; and
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8 | WHEREAS, A new National Infrastructure Bank (NIB) could | ||||||
9 | directly help finance all of these projects; U.S. H.R. 3339, | ||||||
10 | "The National Infrastructure Bank Act," which is sponsored by | ||||||
11 | U.S. Representative Danny Davis of Illinois and supported by | ||||||
12 | U.S. Representative Bobby Rush of Illinois, has been | ||||||
13 | introduced to Congress; this resolution would create a $5 | ||||||
14 | trillion bank that could help finance all infrastructure | ||||||
15 | projects and provide higher paying infrastructure and related | ||||||
16 | employment to those who lost their jobs during the pandemic; | ||||||
17 | and
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18 | WHEREAS, The NIB is modeled on previous successful | ||||||
19 | institutions, which built much of the nation's infrastructure | ||||||
20 | including the infrastructure of Illinois; under Presidents | ||||||
21 | George Washington, James Madison, Abraham Lincoln, and | ||||||
22 | Franklin D. Roosevelt, similar institutions financed the | ||||||
23 | roads, bridges, dams, railroads, canals, and other projects | ||||||
24 | that made us the envy of the world; the last NIB-like |
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1 | institution helped bring us out of the Great Depression and | ||||||
2 | win World War Two; and
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3 | WHEREAS, The NIB will be capitalized by existing Treasury | ||||||
4 | debt and will require no new federal spending and no new taxes; | ||||||
5 | it will be authorized to spend $5 trillion in urgently needed | ||||||
6 | infrastructure projects and will create over twenty million | ||||||
7 | new jobs, pay Davis-Bacon wages, and ensure Buy American | ||||||
8 | policies; it will direct spending into disadvantaged business | ||||||
9 | enterprises and ensure substantial minority hiring; experts | ||||||
10 | state that the NIB will increase Gross Domestic Product to the | ||||||
11 | five per cent annual level, as did all previous institutions; | ||||||
12 | and
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13 | WHEREAS, The NIB is supported by many organizations; 21 | ||||||
14 | state legislatures have introduced or passed resolutions, and | ||||||
15 | dozens of city and county councils have done the same, | ||||||
16 | including the Chicago City Council; other endorsements include | ||||||
17 | The National Congress of Black Women, the National Association | ||||||
18 | of Counties, the Public Banking Institute, the National | ||||||
19 | Federation of Federal Employees, the American Sustainable | ||||||
20 | Business Council, the National Association of Minority | ||||||
21 | Contractors, the National Latino Farmers and Ranchers, and | ||||||
22 | many other labor and community organizations; therefore, be it
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23 | RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL |
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1 | ASSEMBLY OF THE STATE OF ILLINOIS, that we urge the Congress of | ||||||
2 | the United States to pass U.S. House Resolution 3339 to create | ||||||
3 | a National Infrastructure Bank to finance urgently needed | ||||||
4 | infrastructure projects; and be it further
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5 | RESOLVED, That suitable copies of this resolution be | ||||||
6 | delivered to every member of the Illinois Congressional | ||||||
7 | Delegation, Governor JB Pritzker, and President Joe Biden.
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