Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SJR134 Compare Versions

Only one version of the bill is available at this time.

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3	3	2023 - 2024 LEGISLATURE
4	4	2023 SENATE JOINT RESOLUTIO N 134
5	5	March 18, 2024 - Introduced by Senator ROYS, cosponsored by Representatives
6	6	STUBBS, MADISON, BALDEH, DRAKE, MOORE OMOKUNDE and SUBECK. Referred to
7	7	Committee on Senate Organization.
8	8	*AUTHORS SUBJECT TO CHANGE*
9	9	Relating to: supporting the creation of a National Infrastructure Bank.
10	10	Whereas, the American Society of Civil Engineers stated in its 2021 report card
11	11	that the United States received a grade of C- regarding its current state of
12	12	infrastructure, and that more than $6 trillion would be needed to restore the nation's
13	13	infrastructure to a state of good repair; over $2 trillion is currently not funded, and
14	14	the remainder is inadequately funded. In addition, new, 21st century projects
15	15	remain unfunded; and
16	16	Whereas, HR 4052, the National Infrastructure Bank Act, was introduced in
17	17	Congress to create a new National Infrastructure Bank. This legislation creates a
18	18	$5 trillion bank, authorized to invest in infrastructure projects only. The legislation
19	19	requires no new federal spending and no new federal taxes, and it would be
20	20	capitalized by existing treasury debt, as was done previously in U.S. history; and
21	21	Whereas, Wisconsin infrastructure received a C grade from the American
22	22	Society of Civil Engineers; and
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40	40	Whereas, Wisconsin needs $8.6 billion to address drinking water infrastructure
41	41	deficiencies and $6.3 billion for wastewater infrastructure maintenance and
42	42	upgrades; and
43	43	Whereas, Wisconsin has 200,000 lead service lines needing to be replaced, and
44	44	the Bipartisan Infrastructure Law covers $800 million in drinking water needs and
45	45	partially covers other water needs; and
46	46	Whereas, deficient roads cost drivers $6 billion annually due to wear and tear,
47	47	wasted fuel, and repair costs; the American Road and Transportation Builders
48	48	Association identified 1,955 bridges in Wisconsin that require repair, with an
49	49	estimated price tag of $1.4 billion; and Wisconsin has an estimated $7.5 billion
50	50	shortfall in all road, bridge, and transportation needs after Bipartisan
51	51	Infrastructure Law investments; and
52	52	Whereas, Wisconsin has a shortage of 127,000 units of affordable housing for
53	53	the most housing-insecure; and
54	54	Whereas, a new National Infrastructure Bank will help finance all the
55	55	infrastructure of Wisconsin in partnership with state and local governments, both
56	56	rural and urban, and Wisconsin would receive nearly $100 billion from the National
57	57	Infrastructure Bank, which would create at least 417,000 new high-wage jobs; and
58	58	Whereas, the National Infrastructure Bank is modeled on previous banks that
59	59	helped build much of our infrastructure under Presidents George Washington,
60	60	James Madison, Abraham Lincoln, and Franklin D. Roosevelt; the last such bank
61	61	helped bring us out of the Great Depression and win World War II; and
62	62	Whereas, the National Infrastructure Bank will create 25 million new jobs, pay
63	63	prevailing wages, and include Buy America provisions, and Disadvantaged Business
64	64	Enterprises will receive significant disbursements; and
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93	93	Whereas, HR 4052 mandates large-scale minority, veteran, and former
94	94	prisoner hiring, the dramatic expansion of small- and medium-size businesses, and
95	95	an increase in revenues for state and local governments; and
96	96	Whereas, according to experts, the National Infrastructure Bank will grow the
97	97	economy by 5 percent per year, as did its predecessors; and
98	98	Whereas, many organizations have issued endorsements and 26 state
99	99	legislatures have introduced or passed resolutions of support, as have county and
100	100	city councils. National endorsements include Dodge County, the Wisconsin Board of
101	101	Supervisors, the Chicago City Council, the National Black Caucus of State
102	102	Legislators, the National Asian-Pacific American Caucus of State Legislators, the
103	103	National Hispanic Caucus of State Legislators, the National Association of
104	104	Development Organizations (all 541 Regional Planning Commissions), the National
105	105	Association of Counties, the United Association of Plumbers and Steamfitters, and
106	106	many more; now, therefore, be it
107	107	Resolved by the senate, the assembly concurring, That the Wisconsin
108	108	Legislature supports the creation of a National Infrastructure Bank to finance
109	109	urgently needed infrastructure projects and supports actions that create it, such as
110	110	HR 4052; and, be it further
111	111	Resolved, That the assembly chief clerk shall provide a copy of this resolution
112	112	to the governor, the U.S. congressional delegation for Wisconsin, and the President
113	113	of the United States.
114	114	(END)
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