AZ SCM1001

Urges United States Congress to enact legislation establishing a National Infrastructure Bank (NIB) to finance infrastructure projects without requiring new federal spending or taxes.

Cites American Society of Civil Engineers data showing the U.S. needs $4.5 trillion for infrastructure repair and Arizona faces specific shortfalls including $1.5 billion for bridge repairs and $1.4 billion for wastewater infrastructure.

Models the proposed NIB on historical banks established under Presidents Washington, Madison, Lincoln, and Roosevelt, with the last bank helping the nation recover from the Great Depression and finance World War II efforts.

References H.R. 3339 from the 117th Congress, which would authorize up to $5 trillion for infrastructure investment, including $400 billion for western water programs, broadband connectivity, affordable housing, and high-speed rail between Arizona cities and neighboring states.

Notes that 22 state legislatures have introduced or passed similar resolutions and emphasizes the NIB would create 25 million jobs, include Davis-Bacon wages, Buy American provisions, and mandate minority contractor participation.