HF 1144 Summary

• Urges Congress to restore Glass-Steagall Act provisions and pass HR 381 and S1709 to separate investment and commercial banking, citing the $250 trillion derivatives bubble and 2008 financial crisis as justification.

• Calls for establishment of a national banking and federal credit system capitalized at $1-2 trillion to fund infrastructure programs, modeling historic systems used by Alexander Hamilton, Abraham Lincoln, and Franklin Roosevelt.

• Directs federal credit system to fund high-speed rail networks, power generation systems, water projects, and a multistate flood control program for Mississippi River states modeled on the Tennessee Valley Authority.

• Proposes launching a space program to establish a permanent manned lunar colony and develop nuclear fusion technology, noting University of Minnesota's existing involvement in these projects.

• Directs Minnesota Secretary of State to transmit the memorial to Minnesota's congressional delegation and the President of the United States.