IL HR0020

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

Cites Illinois infrastructure deficiencies including a C+ overall grade from the American Society of Civil Engineers, a D grade for roads, ranking third worst nationally for travel delay and truck congestion, and 2,300 structurally deficient bridges

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

Would fund projects including mass transit, clean water systems, rural broadband, passenger rail, and high-speed rail by repurposing existing Treasury debt

Notes the proposal has been endorsed by labor organizations and has received supporting resolutions from 16 state legislatures