CA AJR32

Urges Congress to pass H.R. 3339, the National Infrastructure Bank Act of 2021, to establish a National Infrastructure Bank authorized to invest $5 trillion in infrastructure projects.

States the bank would require no new federal spending or taxes and would be capitalized by repurposing existing U.S. Treasury debt.

Notes that infrastructure projects funded by the bank would create 25 million new jobs with Davis-Bacon Act wages and Buy American provisions.

Identifies California's infrastructure needs including $61 billion in annual costs from deficient roads, $75 billion for high-speed rail, $45 billion for levee rehabilitation, and $20-25 billion for water quality improvements.

Highlights that multiple state legislatures, county governments, city councils, and national organizations have expressed support for establishing the National Infrastructure Bank.