*HC1020*
Introduced Version
HOUSE CONCURRENT
RESOLUTION No. ____
DIGEST OF INTRODUCED RESOL UTION
A CONCURRENT RESOLUTION urging Congress to
enact H.R. 4052 to establish a National Infrastructure Bank to
finance urgently needed infrastructure projects.
Boy
_______________________, read first time and referred to Committee on
20241967
2024 HC 1020/DI 140 Introduced
Second Regular Session of the 123rd General Assembly (2024)
HOUSE CONCURRENT
RESOLUTION No. ____
1 A CONCURRENT RESOLUTION urging Congress to
2 enact H.R. 4052 to establish a National Infrastructure Bank to
3 finance urgently needed infrastructure projects.
4 Whereas, The American Society of Civil Engineers (ASCE)
5 stated in its 2021 report card that the United States received a
6 grade of C- regarding the current state of infrastructure and
7 that more than six trillion dollars would be needed to restore
8 the nation's infrastructure to a state of good repair;
9 Whereas, Over two trillion dollars is currently not funded,
10 and the remainder is inadequately funded with new, 21st
11 century projects remaining unfunded;
12 Whereas, Congress introduced H.R. 4052, the National
13 Infrastructure Bank Act of 2023, to create a new National
14 Infrastructure Bank (NIB), and this legislation would create a
15 five trillion dollar bank, authorized to invest in infrastructure
16 projects only;
17 Whereas, The NIB would require no new federal spending
18 and no new federal taxes, and it would be capitalized by
19 existing Treasury debt, as was done previously in U.S. history;
20 Whereas, The NIB is modeled on previous banks which helped
21 build much of our infrastructure under Presidents George
22 Washington, James Madison, Abraham Lincoln, Herbert
23 Hoover, and Franklin D. Roosevelt, and the last such bank
24 helped end the Great Depression and win World War II;
25 Whereas, The new NIB will create 25 million new jobs, pay
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1 prevailing wages, and includes strong Buy America provisions;
2 Whereas, Disadvantaged business enterprises will receive
3 significant disbursements, and the bill ensures large-scale
4 minority hiring;
5 Whereas, The NIB will expand small and medium size
6 businesses, and increase revenues into state, local, and federal
7 governments;
8 Whereas, According to experts, the NIB will grow the
9 economy by five percent per year as did its predecessors;
10 Whereas, Many organizations have issued endorsements,
11 including 24 state legislatures that have introduced or passed
12 resolutions of support, as have dozens of city and county
13 councils;
14 Whereas, National endorsements include: the National Black
15 Caucus of State Legislators, the National Asian Pacific
16 American Caucus of State Legislators; the National
17 Association of Development Organizations (including all 541
18 regional planning commissions), the National Association of
19 Counties, the US High Speed Rail Association, the National
20 Latino Farmers and Ranchers, the American Sustainable
21 Business Council, the National Association of Minority
22 Contractors, and the United Association of Plumbers and
23 Steamfitters; and
24 Whereas, In addition, the Northern Indiana Passenger Rail
25 Association, the Indiana Passenger Rail Alliance, and many
26 more organizations have endorsed it: Therefore,
27 Be it resolved by the House of Representatives
28 of the General Assembly of the State of Indiana,
29 the Senate concurring:
30 SECTION 1. That the Indiana General Assembly urges
31 Congress to enact H.R. 4052 to establish a National
32 Infrastructure Bank to finance urgently needed infrastructure
33 projects.
34 SECTION 2. That the Principal Clerk of the House of
35 Representatives transmit a copy of this resolution to each
36 member of the Indiana Congressional delegation.
2024 HC 1020/DI 140