LRB-4588/1
CMH:skw
2023 - 2024 LEGISLATURE
2023 ASSEMBLY JOINT RESOLUTIO N 143
March 22, 2024 - Introduced by Representatives STUBBS, MADISON, BALDEH, DRAKE,
MOORE OMOKUNDE and SUBECK, cosponsored by Senator ROYS. Referred to
Committee on Rules.
Relating to: supporting the creation of a National Infrastructure Bank.
Whereas, the American Society of Civil Engineers stated in its 2021 report card
that the United States received a grade of C- regarding its current state of
infrastructure, and that more than $6 trillion would be needed to restore the nation's
infrastructure to a state of good repair; over $2 trillion is currently not funded, and
the remainder is inadequately funded. In addition, new, 21st century projects
remain unfunded; and
Whereas, HR 4052, the National Infrastructure Bank Act, was introduced in
Congress to create a new National Infrastructure Bank. This legislation creates a
$5 trillion bank, authorized to invest in infrastructure projects only. The legislation
requires no new federal spending and no new federal taxes, and it would be
capitalized by existing treasury debt, as was done previously in U.S. history; and
Whereas, Wisconsin infrastructure received a C grade from the American
Society of Civil Engineers; and
1
2
3
4
5
6
7
8
9
10
11
12
13
14 - 2 -
LRB-4588/1
CMH:skw
2023 - 2024 Legislature
Whereas, Wisconsin needs $8.6 billion to address drinking water infrastructure
deficiencies and $6.3 billion for wastewater infrastructure maintenance and
upgrades; and
Whereas, Wisconsin has 200,000 lead service lines needing to be replaced, and
the Bipartisan Infrastructure Law covers $800 million in drinking water needs and
partially covers other water needs; and
Whereas, deficient roads cost drivers $6 billion annually due to wear and tear,
wasted fuel, and repair costs; the American Road and Transportation Builders
Association identified 1,955 bridges in Wisconsin that require repair, with an
estimated price tag of $1.4 billion; and Wisconsin has an estimated $7.5 billion
shortfall in all road, bridge, and transportation needs after Bipartisan
Infrastructure Law investments; and
Whereas, Wisconsin has a shortage of 127,000 units of affordable housing for
the most housing-insecure; and
Whereas, a new National Infrastructure Bank will help finance all the
infrastructure of Wisconsin in partnership with state and local governments, both
rural and urban, and Wisconsin would receive nearly $100 billion from the National
Infrastructure Bank, which would create at least 417,000 new high-wage jobs; and
Whereas, the National Infrastructure Bank is modeled on previous banks that
helped build much of our infrastructure under Presidents George Washington,
James Madison, Abraham Lincoln, and Franklin D. Roosevelt; the last such bank
helped bring us out of the Great Depression and win World War II; and
Whereas, the National Infrastructure Bank will create 25 million new jobs, pay
prevailing wages, and include Buy America provisions, and Disadvantaged Business
Enterprises will receive significant disbursements; and
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25 - 3 -
LRB-4588/1
CMH:skw
2023 - 2024 Legislature
Whereas, HR 4052 mandates large-scale minority, veteran, and former
prisoner hiring, the dramatic expansion of small- and medium-size businesses, and
an increase in revenues for state and local governments; and
Whereas, according to experts, the National Infrastructure Bank will grow the
economy by 5 percent per year, as did its predecessors; and
Whereas, many organizations have issued endorsements and 26 state
legislatures have introduced or passed resolutions of support, as have county and
city councils. National endorsements include Dodge County, the Wisconsin Board of
Supervisors, the Chicago City Council, the National Black Caucus of State
Legislators, the National Asian-Pacific American Caucus of State Legislators, the
National Hispanic Caucus of State Legislators, the National Association of
Development Organizations (all 541 Regional Planning Commissions), the National
Association of Counties, the United Association of Plumbers and Steamfitters, and
many more; now, therefore, be it
Resolved by the assembly, the senate concurring, That the Wisconsin
Legislature supports the creation of a National Infrastructure Bank to finance
urgently needed infrastructure projects and supports actions that create it, such as
HR 4052; and, be it further
Resolved, That the assembly chief clerk shall provide a copy of this resolution
to the governor, the U.S. congressional delegation for Wisconsin, and the President
of the United States.
(END)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22