IL HR0014

Calls upon the U.S. Congress to create a National Infrastructure Bank capitalized at $3 to $4 trillion to address the nation's estimated $4 trillion infrastructure shortfall

Cites Illinois' infrastructure deficiencies including a C+ overall grade, D grade for roads, ranking third worst in the nation for travel delay and truck congestion, and 2,300 structurally deficient bridges

Proposes the bank be modeled after historical institutions including Alexander Hamilton's First Bank of the United States, Lincoln Banking Acts, and Franklin Roosevelt's Reconstruction Finance Corporation

Intended to fund projects including mass transit, clean water systems, rural broadband, passenger rail, and high-speed rail with minimal new taxpayer money by repurposing existing Treasury debt

Notes the proposal has been endorsed by labor organizations and that resolutions supporting a National Infrastructure Bank have been filed in 16 state legislatures