AZ SCM1005

Urges United States Congress to enact H.R. 3339, the National Infrastructure Bank Act, which would create a $5 trillion bank capitalized by repurposing existing treasury debt with no new federal spending or taxes.

Cites American Society of Civil Engineers 2021 report finding the United States infrastructure grade of C- and over $4.5 trillion needed for repairs, with Arizona receiving a C grade and needing nearly $100 billion in infrastructure investment over 25 years.

Identifies Arizona-specific infrastructure needs including $1.5 billion to repair nearly 1,800 bridges, $1.4 billion wastewater shortfall, affordable housing shortage, and passenger rail service between Tucson and Phoenix with high-speed rail connections to Los Angeles, San Diego, and Las Vegas.

States the National Infrastructure Bank would create 25 million jobs, pay Davis-Bacon wages, include Buy American provisions, fund broadband connectivity, and mandate large-scale minority hiring and disadvantaged business enterprise disbursements.

Notes 22 state legislatures have introduced or passed supportive resolutions, and numerous national organizations including the National Association of Counties, United States High Speed Rail Association, and various trade unions have endorsed the proposal.